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Home Equity and Refinancing

~5700 answered questions
Parent Category: Mortgages
Home equity is the ownership value accumulated in a property. A refi involves restructuring a debt, usually to take advantage of lower interest rates.
Answer It's common practice for OB's or clinics to give a copy to the parents. Congrats! Answer Yes!!!!
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you may have dust or dirt on the lens of the CD player. This could make it have difficulty recognizing a disk
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no because the bank will hold both of you responsible for the loan...unless there is some way to talk to the bank and find out differently. I would try talking to your loan officer or whatever and ask them if the loan could be changed to just on or the other.
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The easy answer is that football is a winter sport, so it's played with seasons starting in early autumn and ending in late spring, with a summer break. But as it's played in both hemi-spheres theres always pro-footballing taking place somewhere.The complicated answer is that theres no general rule,…
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A soccer ball got its name from England i am pretty sure.
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I don't know the exact inventor of soccer, though what I do know, is that it was invented in England. I think it was a number of people who invented soccer and not just one person. Look at the question (on this site) Where Did Soccer Originate? I answered that question and it has more information o…
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%REPLIES% Answer In 1856 the Chicago City Council ordered that all street grades be raised to insure proper sewage drainage. By lifting the street levels four to seven feet even twelve feet sewers could be designed to flow and empty into the Chicago River. The Chicago River was dredged to…
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Assuming that one party acquired the land by virtue of a warranty deed and then conveyed it to himself or herself and spouse by a quitclaim deed, that would be effective as long as the deed was drafted properly. You need to check the tenancy created in the most recent deed. If it is a joint tenancy …
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It depends on the type of survey you want, among other things. Try the link to the right for a directory of Surveying Companies by state. Contact a couple in your area and tell them what you need. Perhaps they can give you some estimatesAs a Professional Land Surveyor, I generally say the survey wil…
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1You could get 220-240V from using the two live ["hot"] wires rather than one live and one neutral.  2Tim, Industrial control transformers are available to get 120 volts from 277 volt systems. If you feed one of these with 120 volts to the secondary coil, it will put out 277 volt from the prim…
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It's alwas better to install the 200 amp then the 100.You may not need the 200 right now , but down the line should you deceid to change it would cost you more.
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I think the only sure way is to put a high-impedance volt meter and measure the voltage across live and neutral. Don't forget that it's AC.You could look at the bulbs in the lighting to see if the say 120v or 240v.
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I would recommend at least a 200 amp service. and a subpanel in the workshop. This is not a DIY project. Contact a qualified electrician.   Well, I guess it depends how many arms you have ... I can only usually run one power tool at once, so it depends on if you have help or not. You could po…
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Answer No. Home equity loans are revolving credit lines. In simple terms, that means you could pay on that for three years and not even touch the principal. I wouldn't do it. Maybe rolling it into a consolidation loan if you have enough equity in your home, but not a HELOC. Answer No. You want…
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If the names are joined with "OR" or "AND/OR", either can go to the DMV and have the title changed. If there is just an "AND", they will both have to sign.
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About an hour. Just long enough to fax 3 pages. They do it every day so they wont have to find out how to go about it. Get your stuff out of the car. Good Luck
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Michigan TITLE STATE: 1975 and subsequent years. SECURITY INTERESTS: Shown on title held by debtor. LICENSE REGISTRATION: Michigan Bureau of Driver and Vehicle Records, 7064 Crowner Drive, Lansing, Michigan 48918. Tel:(517)322-1460. RECOVERY REQUIREMENT: As per UCC, repossession allowed without comm…
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YES, after they get a judgment for the amount still owing on the contract. That amount can be applied as a lien against other property you own.
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%DETAILS% Depends on what state you are in and what you do with the car AFTER you stop paying the notes. Do you have a grand plan to get a free car?? Either pay the notes or turn the car in. Be a real friend and dont screw over someone.   If your friend purchased the car, he probably used …
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to add to my above question... i cosigned for my boyfriend and then we found out that his employer was closing down..so we took the vehicle back to the dalership and explained the situation... two days later we received a letter demanding either the van OR the money. we go to court in a few days an…
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"What should I do?" Legally, you should contact the leinholder and arrange to deliver the car to a mutually agreeable location. That's probably stated in your contract. Keeping the car is only costing you money.
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READ your contract. You likely agreed to pay ALL fees and charges need to COLLECT the account. The reppo was a tool used to collect the account. Yours wasnt the first contract they wrote. Lenders have CLOSED all the loopholes long ago.
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Read your contract. If it doesn't specify how long, most states allow the lender to sell after 10 days. Its NOT LONG any way you look at it.
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If "one" went to the trouble to be listed as leinholder, why didnt "one" take time to write up some sort of agreement? http://www.ncleg.net/Statutes/GeneralStatutes/HTML/BySection/Chapter_25/GS_25-9-609.html § 25-9-609. Secured party's right to take possession after default. (a)Possession; renderin…
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IF your name is on the TITLE as buyer or cobuyer, you have the right to POSSESSION. Do you know where the car is? Do you have a key?
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%REPLIES% Answer NOT that I know of. call a local attorney for state specific advice. Answer It's not a threat. Just a warning that IF YOU FORCE THEM TO APPLY FOR A WRIT OF REPLEVNA by refusing to surrender the car, you WILL BE ARRESTED. Answer No! Creditors and/or their representati…
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"TRYING" to refinance your home is NOT the same as "I will have the money in 3 days. You should have refinanced your home home 90 days ago so you wouldn't be in default on your car loan. You're right. I know. And I learned my lesson. However, I am lucky the bank and the repo company did some un…
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There is a program that assists anyone in the country with borrowing cash for a down payment. There is a great loan product designed to help people who need extra cash now to pay for the down payment of a vehicle. There are about 150 lenders that bid against each other to provide the loans. These …
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I was in this exact same position last year with my 1999 Daewoo Nubira CDX S/W. The company went bankrupt and my car was worth 1/10th of what I owed on it when I went to trade it in on a newer vehicle. Unfortunately, as I discovered after asking everyone I knew who might have an answer, there are ve…
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I don't think getting paid on commission will present as much of an obstacle as the fact that your husband has only held his current job for 3 months so far. Banks and mortgage companies usually prefer you've held a job for about two years if I recall correctly. I don't know what his past work histo…
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All of the title insurance underwriter as well as many many title agencies have websites that can direct you to a local agency in your state/county/community.Simply keyword into your web browser: title insurance search, title insurance, or title insurance companies. Many title insurance underwriters…
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Contact the County Assessors office where you live. Property records are public information (to some extent). Some Assessors Offices have the information online, searchable by address or parcel ID number. With others you might have to physically go to the Assessors office and look it up.You can also…
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I would think it depends on what state you reside. Obviously if you live in Maine, a pool is not going to be used in the same way it would if you lived in Florida. And therefore wouldn't be much of an asset. I do know that regardless of where you live, homeowners insurance rates rise considerably wh…
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That image is the Gillette Stadium logo, a stylized image of Gillette Stadium's Bridge and Lighthouse. According to the website of the New England Patriots: "Painted on each side of the field is the Gillette Stadium logo symbolized by the light tower and bridge." A click on the Related Link will …
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Don't use fake papers if you can possibly help it. It could put your marriage in jeopardy, can make your mate face deportation, and could get you into trouble as well. Do everything as legally as you can. Stop using the fake papers ASAP.   Simple fact, if the documents used are not legitimate…
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I am assuming the confession came after you were married. It hurts,... it hurts to be betrayed and lied to and made a fool of. That kind of pain and distrust will take years to heal from. I had never trusted a man in all my life until I met my husband and for some reason, I loved him so wholly and c…
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Renting vs. Buying Is renting cheaper? No. Given the same house it will almost always be cheaper to own than to rent. Here is why: Somebody owns that house. And there is probably a mortgage on it. Let's say the mortgage payment is $500. If I owned it and rented it to you I would not charge your $50…
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Absolutely! And this is something I would certainly consider! To do this, you will need to contact your Local Public Housing Agency - the related link provides contact information for all states. Section 8 tenants tend to keep their house for a long time, not move in and out so quickly. There are …
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It depends on what you will be doing, and of course on your employer. Needless to say it is a good safeguard for both parties. In some states, if you are doing child or health care you have to be bonded and have a background check (usually by the state police). There are bond companies(check the yel…
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Closing That's simply called ... drum roll, please ... "the closing." Sometimes it's called a "complimentary closing." Good luck with your letters. It could also be called the valediction.
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Well, not every one can get a copy of your credit report. Only people related toLegitimate business need to access your credit report.
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Any debts incurred by a person before marriage belong to them entirely, and will not affect the other spouse.
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YES. If the person'sname was on the loan they are equally responsible.
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That depends on how the property is titled. For instance judgments for federal and/or state tax can result in liens against almost any property. Forced sale of property depends on how the property is titled and the state statutes where the property is located that pertain to homestead exemption(s).
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Your question reads, "Is a creditor REQUIRED.." If you mean "by law," the answer is mostly no, but it varies from state to state. If you mean "by common decency," then I should answer Yes. Most times, if the co-borrow is a wife or significant other, the creditor will not bother to notify the co-borr…
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The only option I believe you would have, is to sue your ex for the money you spend paying off his/her financial obligations. It would seem to me, if the person will or can't pay the creditors. It would be highly unlikely you would be able to recover your money either.
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All SS payments, whether to the beneficiary or survivors are exempt from any attachement by creditors. A secured loan, however is entirely different. The lender can foreclose on property if it is defaulted on. The death of the borrower (or one of the borrowers) is irrelevant. There could be insuranc…
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The answer depends upon what type of account you have. There are different types of accounts which have a card.The typical credit card is issued on a revolving account. This type of account allows the consumer to pay a minimum balance (set by the credit card company) and REVOLVE the remainder over t…
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Loans (mortgages) are secured loans, the house is the collateral. In some cases a death benefit is included in the homeowner's insurance that may cover the outstanding balance. A surviving spouse, co-owner, etc. will have to pay the balance of the loan or sell/forfeit the property.
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If the judgment is granted, the creditor would be able to take whatever steps are allowable under (your) state law to recover their money. This may include seizing bank accounts, garnishing wages and placing liens against any real property.
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Even if you discharge a tax debt in a bankruptcy (which can be done in limited circumstances), the lien associated with that debt is not released by bankruptcy proceedings. The result is that you may come out of bankruptcy with no tax liability, but there may still be a lien on your property. That …
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In a Chapter 7 case, one can normally reopen a bankruptcy to add a creditor as long as the debt was incurred before the bankruptcy case was filed and the debtor simply forgot to list the creditor on his or her petition. The court charges a filing fee of $155 to reopen a case and a $26 amendment fee …
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Yes. Married people can file individually. The marriage actually has nothing to do with it though.If you filed, no matter what, you can't file chapter 7 again for 8 years, provided you received a discharge. He can file anytime he wants.If you have any joint debt, you may want to consider Chapter 13.…
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It depends on what the civil judgment was for. For example, judgments for medical or credit card collections may normally be discharged by any chapter of bankruptcy. But, if for example the civil judgment was for damages caused from drinking and driving, or for an intentional tort, such as battery o…
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It depends. If you have something to hide, then I would not file bankruptcy - it becomes a Federal Crime.Most of the time Trustees will ask to see any and all bank statements for a few months (normally 3) up to the date of filing. They may ask some questions related to how you spend you cash, and ma…
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I don't really understand your term "frozen pension." Was it not exempt from the bankruptcy proceedings? Or was it held until a ruling was made and then released when the bankruptcy was discharged?
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That depends on how high an interest rate you are willing to pay. How much cash you can put down, issues of that nature. The general rule 18-24 months after your bankruptcy has been discharged. Some lenders will see you as a better risk, because you will be more or less "debt free." There are ma…
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In NC you cannot file again for another 7-10 years. I don't know if that goes for all states or not.   If you fall behind on 13 payments, you should be able to refile 6 months (180 days) after the dismissal.   In Indiana, and maybe everywhere, a debtor doesn't even have to wait the 180…
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Typically, mortgage companies are willing to lend to a consumer 12 months after a bankruptcy is DISCHARGED.Make sure that the disposition is recorded on all three credit bureaus. Also, follow up and make sure that all credit accounts that were included are notated as "included in bankruptcy" and cle…
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The loan papers or who made the payment(s) unfortunately are not relevant to ownershp. If his name is on the titled, then the house belongs to both of you. How the property is handled during the bankruptcy, depends on how the title reads, and the state in which you reside. If it is TBE, then it is s…
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If you're applying for an Apt. in Section A Housing or smaller, not so nice residential areas you probably won't have a problem but anywhere else you will not be eligible for at least 7 years, or if they do consider leasing to you you either 1.) Must have est. 2 or more years good credit history sin…
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Possibly. It would depend on several things. For one whether or not the state you reside in allows Federal and/or State BK filings. Some states opted out of Federal bankruptcy. Persons considering bankruptcy should refer to the laws of their residential state.
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Yes. It is usually the only other option for a borrower. If not the creditor might seek legal recourse in the form of a lawsuit. Even though the idea of a lawsuit is "scary" it can be a better choice than BK, depending on circumstances of the borrower.
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This depends on how the house is titled and who is responsible for the mortgage payment. It can be foreclosed on if payments are defaulted the lender does not choose to reaffirm the loan. Or if the exemption does not protect the property, the Trustee can petition for a forced sale.
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From a search asking this questionGenerally, you can sell it as soon as you receive your discharge. If you > sell it for significantly more than you scheduled it, though, there > could be > problems. > > -- > Brett > > *********************************************************…
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As a general rule if a person's name is not on the title, then they do not "own" the property and it would not be included in BK. However, some community property states have specific laws governing real estate owned by married couples. It would be advantageous to find out the BK laws of the state o…
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It is beneficial to have all bills/documents relating to BK when you file. The court realizes, however, that things get lost or misplaced. The filer should make a real attempt to supply all the necessary documents for the trustee. Any debts which cannot be proven to the satisfaction of the trustee, …
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If his name is on the title he is still a part owner of the house. The way real estate is handled in bankruptcy is contingent on several factors. How the home is titled according to state statutes If the person(s) reside in a community property state. The amount of the homestead exemption. And the m…
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The terms of BK differ depending on whether you are filing state or federal. Before making any decision you need to find out which house qualifies as your primary residence. That would be the property the homestead exemption can be applied to. It might be beneficial to consult an attorney that speci…
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If the property is jointly titled it would have to be retitled according to state statutes. If a lien has been placed against the property the property cannot be retitled, sold, or refinanced until the lien is satisfied.
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One can normally sell a house as soon as they want after the Order of No Asset is issued by the Court, but most people wait until after the Discharge is entered and the case is closed to be safe. One word of caution though: I had a potential client come in to my office once (a couple of years ago) a…
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Bankruptcy will knock your credit score down by 75 to 150 points, depending on the case. However, it usually only affects your ability to get credit for 12 to 36 months.I have spoken to several mortgage lenders, and almost all of the lenders agree that two years is the amount of time after your bank…
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Normally, you can pay off the Chapter 13 early by selling something BUT you need to get permission from the Bankruptcy Court prior to the sale. Debtors usually acquire permission by filing a "Motion to Sell Real Estate" or some such document with the Bankruptcy Court, and in the motion ask the Court…
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PROBABLY if one is in a Chapter 13 and that debtor converts to Chapter 7, that debtor can re-file another Chapter 13 immediately after the Chapter 7 discharge.I say "probably" rather than "yes" for a few reasons: (1) There is no Bankruptcy Code section that prevents immediate filing of a Chapter 13 …
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The answer to this question can be affected by state law but, as a general rule of thumb, a secured creditor stays secured, even in bankruptcy.Granted, there are LOTS of exceptions to this rule of thumb, but normally if the creditor has a valid, recorded mortgage on the real estate, then the debtor …
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Bankruptcies come off of your credit report either 10 years or 7 years (depending on which Chapter was filed) after the Order for Relief is issued, and the Order for Relief is issued immediately upon the filing of the petition (signified by the "Relief Ordered" stamped on the front page of the petit…
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Yes, one can normally keep a home in bankruptcy. When discussing losing a home in bankruptcy, there are two potential entities that can take it: the mortgage lender and the Bankruptcy Court. WITH RESPECT TO THE MORTGAGE LENDER: In Chapter 7, one may normally keep a home so long as mortgage payments …
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Answer If you have several jobs, most likely the ones that will be considered are the ones you can prove that you have held for a year or more. This includes part time, moonlighting jobs if you wish to have that income considered. Keep a good file with paystubs, award letters and so on. If you …
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Banks can foreclose in as short as 90 calendar days.
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The answer depends on your life goals and style. But, in general, a 3 bedroom, 2 bath will be easier to resell. Single? Middle-aged and childless? Retiring and traveling? For a place to live, close to jobs, family, and entertainment venues, a small, well-located condo may be the best answer. The a…
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Try this: "THE FIRST TIME HOMEBUYER BOOK" - written by a professional working agent and really informative! Maybe one or more of these interesting books might help make the whole homebuying ordeal a little less stressful. The 106 Mortgage Secrets All Homebuyers Must Learn - But Lenders Don't Tellb…
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Usually closing cost will include origination fees, discount points, lenders fees, escrow fees, credit report cost, title insurance fees, title search fees, flood certificate, notary fees. Other closing costs include title insurance, courier fees, wire fees, and mortgage and deed taxes as well as re…
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Buying a home can be a daunting experience. Here is some advice from Answers.com contributors on what to ask/do during home showings: You can ask whatever you want, but they don't necessarily have to tell you the truth. Open Houses are a great way to see a house, not a great way to get info on it. …
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It depends what law are in your state. It could be common law marriage, but you might want to consult a lawyer about it.  Division of a joint propertyThe answer may be in the deed. Two names? Two owners. Whether they are related by law, or have a contractual understanding between themselves, i…
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Not all cash. You have to pay some cash to buy any home (the down payment). Therefore you buy it the same way you would buy any house.
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Yes, for the most part, you will have to have some qualifying element.
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It depends where you live, although it's similar everywhere.  
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If they've cosigned for the mortgage, yes.The only time a partner (husband/wife, usually) doesn't need to be there is if the mortgage and title papers are all in one person's name.   The only people who really need to be at a re-fi is the lender's attorney and your attorney-in-fact (somebody …
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All sorts of lenders offer mortgages for as little as 3% down. It depends on what you qualify for, and what kind of financing you want to accept (MI, second mortgage, etc.)Ask around.  Do a little research. We've bought homes with NO downpayment.Yes, it really is possible.But for most people, …
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Finding a foreclosed home can be done several ways. Contacting your local real estate agent is always the best place to start. Your real estate agent can help you find homes, contact the agencies selling foreclosed homes, refer you to agents of a specific region, and handle the paperwork that comes …
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In order to refinance even in one persons name, anyone else who is on title must be present at closing. You can't legally refinance a home unless all people on title are present at closing.In any case names on a loan do not directly reflect names on title, you can have one person on a loan and 5 peo…
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You must be able to prove documentation that the primary borrower and not you have made all the payments on the loan you co-signed for, ie. cleared checks, bank statements showing payment. If you can provide your loan officer with that information, he/she should be able to avoid that obstacle. If yo…
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You should be a non-occupying co-borrower on the note, which means that you will not be living at the residence but you are vouching for the primary borrower in case he/she cant make payments. So basically, your credit is on the line. If you didnt handle the situation in that manner there are numero…
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If you reside in a community property state, then YES, your ex spouse would b entitled to part of the home, unless it was directly addressed in a separation agreement prior to divorce.
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If you have made your payments on any mortgages or loans against this property and shared in the responsibility of paying taxes then you certainly have every right to be on that property. Co-Owner means just that .... you own part of it! I would seek out legal advice and have your lawyer deal with t…
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A free and clear property means that the mortgage was completely satisfied and there is no more lien on the property as far as the mortgage goes.
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If you mean do you have to pay taxes on the proceeds from the sale of a house which had a HELOC on it, the HELOC would be have to be paid off upon sale of the subject property. You wouldn't have to pay taxes on it since it is an expense, not income.
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It works like this: suppose you agree on the price of the house at, say, $200,000. You then ask the seller for a 3% seller concession. What this means is that you add 3% to the price of the house. That's right, you're now going to pay $206,000 for that house -- but the seller is going to give you th…
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