No, unfortunately you can not get a home equity to pay off your bankruptcy but there are other alternatives to pull yourself out off that situation and give yourself some financial room to breathe. Check with a certified credit counseling agency to get the best advice. In general if you can, reduce all expenses for clothing, food, cell phone, internet, and any other utilities as much as you can to pay this off faster. Take the bus and save on car expenses.
No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.
yes you can
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.
That's what a refinance is changing the terms. However, if you have equity, can get a 2d as alternative.
No. Even though a home equity loan is backed by the value of one's principal residence, the individual's income must be substantial enough (after other payments) to cover the principal and interest payments associated with the home equity loan. If income cannot/will not be documented, no lender will approve a home equity loan.
No.
No you can not get a home equity line of credit but you can refinance and pay off the chapter 13 with the new mortgage.
yes you can
A home equity loan is a type of loan in which the borrower uses the equity in their home as collateral. There is no restriction on how we can use the money from Home Equity Loan.
True, home equity loan.
That's what a refinance is changing the terms. However, if you have equity, can get a 2d as alternative.
No. Even though a home equity loan is backed by the value of one's principal residence, the individual's income must be substantial enough (after other payments) to cover the principal and interest payments associated with the home equity loan. If income cannot/will not be documented, no lender will approve a home equity loan.
Loan given by bank without security (meaning: Home equity is not used by bank)
No
If you have equity, you can get an equity loan
A home equity loan is a mortgage based on the value of your home that exceeds any outstanding mortgages. Your equity is the value of your home that is actually paid for. If your home is fair market valued at $100,000 and there is an outstanding mortgage in the amount of $40,000 then you have $60,000 in equity. However, note that due to costs, fees and fluctuating home values a lender will generally not loan the full amount of equity but something less than the fair market difference. In your case, having no equity in the home means that you have nothing to offer the lender as collateral and the lender has no reason to loan you any money. No equity means no home equity loan.
Yes. Once a home equity loan, always a home equity loan; but there are certain programs that give breaks in rate to previous home equity acquisitioners.