0
Can a bank require the borrower to pay down a home equity line of credit?
Wiki User
∙ 12y ago
It depends on the loan documents. I imagine most promissory notes for these type of loans have some paragraph in there which gives the lender this right.
AnswerA home equity line of credit is a mortgage and, of course, the bank can require the borrower to make payments. The payment terms are in the documents that you executed when you granted the mortgage to the lender.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Whe can one apply for a Bank of America home equity line of credit?
You can apply for a Bank of America home equity line of credit on their official website or in their bank branches. Both methods require alot of information and may result in you needing to appear in the bank to sign the agreement.
Can you apple for a Home Equity Line of Credit at Tri Counties bank?
Yes you can apply for a Home Equity Line of Credit at a Tri County Bank. You can apply for a Home Equity Line of Credit at any bank of your choosing. Hopefully you have a bank near you.
What is the difference between a Home Equity Line of Credit and a Home Equity Loan?
The difference between a home equity loan and a line of credit is that a home equity loan is money that is borrowed against the equitable value of a home, whereas a line of credit is a loan that can used for anything and is not borrowed against the value of a home.
Where can one find an equity loan for bad credit?
One can find an equity loan for bad credit in a wide variety of places. An equity loan for bad credit can be attained at a local bank or visiting sites such as Alpine Credit.
What banks offer a home equity line of credit?
A home equity line of credit is found at nearly every bank and credit union. New England Bank, Peoples Bank, Bank of Niagara and just about all your local owned banks are good sources of this kind of loan.
Can a co-signer ask the bank to repossess the property covered by the loan?
No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.
Whe can one apply for a Bank of America home equity line of credit?
You can apply for a Bank of America home equity line of credit on their official website or in their bank branches. Both methods require alot of information and may result in you needing to appear in the bank to sign the agreement.
Can you apple for a Home Equity Line of Credit at Tri Counties bank?
Yes you can apply for a Home Equity Line of Credit at a Tri County Bank. You can apply for a Home Equity Line of Credit at any bank of your choosing. Hopefully you have a bank near you.
What is the difference between a Home Equity Line of Credit and a Home Equity Loan?
The difference between a home equity loan and a line of credit is that a home equity loan is money that is borrowed against the equitable value of a home, whereas a line of credit is a loan that can used for anything and is not borrowed against the value of a home.
Who provides equity loans for customers?
You can acquire equity loans at either a bank or a credit union. Depending on which bank or credit union you go to, you may get a better interest rating.
Where can one find an equity loan for bad credit?
One can find an equity loan for bad credit in a wide variety of places. An equity loan for bad credit can be attained at a local bank or visiting sites such as Alpine Credit.
What banks offer a home equity line of credit?
A home equity line of credit is found at nearly every bank and credit union. New England Bank, Peoples Bank, Bank of Niagara and just about all your local owned banks are good sources of this kind of loan.
How can you write-off buying a car with an Equity line of credit?
Equity line of credit is with a Specific Bank/c.u. vouching for the $$$ their Trade In (?) will bring in a given 'Deal'....? Bank vouches for your being able to use that Equity/T.I.(?) amount in a car Deal(?)....
Where can someone open an Equity Line of Credit?
There are many places one might consider going to to open an "Equity Line of Credit." The most reputable source for an "Equity Line of Credit" would be to go through your local bank or credit union.
Who offer loans without performing credit checks?
There are not many financial institutions that will loan money with knowing the credit worthiness of the borrower. Payday loans also require your bank account information so that they can direct debit the payment.
What are some journal entries?
Example of journal entries are as follows: 1 - Start of business [Debit] Cash /bank / goods [Credit] owners equity 2 - Purchase of asset [Debit] Asset account [Credit] Cash / bank 3 - Increase of capital [Debit] Cash / bank [Credit] Owners equity 4 - Decrease in capital [Debit] Treasury Stock [Credit] Cash / bank
What happens if a cosigner dies before the closing of a house?
The bank will stop the closing until the situation can be resolved. The closing may not take place if the surviving co-borrower doesn't meet the bank's income and credit requirements.The bank will stop the closing until the situation can be resolved. The closing may not take place if the surviving co-borrower doesn't meet the bank's income and credit requirements.The bank will stop the closing until the situation can be resolved. The closing may not take place if the surviving co-borrower doesn't meet the bank's income and credit requirements.The bank will stop the closing until the situation can be resolved. The closing may not take place if the surviving co-borrower doesn't meet the bank's income and credit requirements.
