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Can the bank take your house if you have a equity line of credit only?
Wiki User
∙ 13y ago
If you default on the loan, yes.
Wiki User
∙ 13y ago
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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 exactly is scotiabank line of credit?
Scotia Bank is large international bank, and a line of credit is an agreement with this bank that they will loan you money when you ask for it. The loan is based upon equity that you have such as your house.
What is equity line of credit?
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
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.
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 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 exactly is scotiabank line of credit?
Scotia Bank is large international bank, and a line of credit is an agreement with this bank that they will loan you money when you ask for it. The loan is based upon equity that you have such as your house.
What is equity line of credit?
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
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.
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(?)....
How can you have an equity line and an equity loan at the same time?
Both are liens on the property. Most banks will only allow 2 liens per property. Most banks use a formula of the amount of equity of your home. If you have an open equity line of credit, the bank is going to calculate the TOTAL credit line of the equity line, not the amount you currently owe. For the equity loan, the bank will use the amount owed.
Who do i get my home equity line of credit from and what does home equity line of credit mean?
A Home Equity Line Of Credit (HELOC) is generally granted by a bank or credit union. Equity is the amount of your home that you actually own. For example, if your home is worth $100,000 and you have paid $20,000 in principal, your equity is $20,000. A loan can be made using this equity as collateral. A line of credit for this amount basically means you will be given a checkbook that draws upon the loan.
How do you raise the home equity line of credit rates with the bank?
The home equity line of credit rate with a given bank will be fixed depending on the situation. The easiest way to raise this is to find different banks and compare rates.
Can you get a home equity loan or line of credit on a cooperative apartment?
Yes, you can obtain a home equity loan or line of credit through the Bank of New York. They also offer mortgage loans on cooperatives.Yes, you can obtain a home equity loan or a line of credit on co-ops through the Bank of NY.It's true that Bank of New York offers home equity loans or lines of credit on a coop at a very competitive rate. But if you want an alternative, Chase does it as well.
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.
What happens when paying off an equity line of credit?
Nothing happens when you pay of an equity line of credit. The equity that you used for your line of credit is now safe.
