0
What else can I help you with?
Can you get a home equity loan if you don't have a mortgage?
I am assuming you mean that you own the house outright. The answer (provided you own the home without a mortgage) is yes. Home equity loans are designed for people who wish to borrow against the equity in the home. Remember, you have to own the home in order to use equity. This means your name has to be on the deed. (See related link below for more information.)
What does 100k in equity mean for a homeowner?
Having 100k in equity means that the homeowner's property is worth 100k more than what is owed on the mortgage. This can give the homeowner financial security and the ability to borrow against the equity or sell the property for a profit.
What does the term freedom mortgage mean?
Freedom Mortgage is not a just a term, but is actually a mortgage company. Freedom Mortgage Corporation is a private full-service mortgage lender that is licensed in all 50 states.
Can i get an equity loan on a house i own but the mortgage is in my father's estate?
If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.
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.
What does the term mortgage equity actually mean?
Mortgage equity is the term used in the financial industry for the amount of cash value your home is worth at current market value minus the remaining payments you still owe on the home.
How risky is taking a lien on your house?
Please clarify your question. Do you mean taking out a second mortgage or equity line?
Can you get a home equity loan if you don't have a mortgage?
I am assuming you mean that you own the house outright. The answer (provided you own the home without a mortgage) is yes. Home equity loans are designed for people who wish to borrow against the equity in the home. Remember, you have to own the home in order to use equity. This means your name has to be on the deed. (See related link below for more information.)
What does it mean by reverse mortgage aarp?
To reverse a mortgage it means that you are using a portion of the home's equity as collateral. Although, the aarp loans are for seniors; aarp does not endorse or recommend these loans.
What does 100k in equity mean for a homeowner?
Having 100k in equity means that the homeowner's property is worth 100k more than what is owed on the mortgage. This can give the homeowner financial security and the ability to borrow against the equity or sell the property for a profit.
What happens when your home is in foreclosure and you have an equity line of credit on this home?
The line of credit is no longer usable and the bank that gave you the line of equity will be asking you to pay the balance. The mortgage holder will also be asking for the deficiency after the foreclosure auction. Alternatively, the banks may send you a 1099 early next year so you will owe taxes on the "forgiven" balance. Get a good bankruptcy lawyer. The law may change in this area when Congress comes back into session.
What does the term freedom mortgage mean?
Freedom Mortgage is not a just a term, but is actually a mortgage company. Freedom Mortgage Corporation is a private full-service mortgage lender that is licensed in all 50 states.
Can i get an equity loan on a house i own but the mortgage is in my father's estate?
If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.If you mean that you own your property and had granted a mortgage to your father then his estate must release it. His estate must be probated in order for an estate representative to have the authority to issue a release. The bank will likely want the probate issues to be addressed before it will loan any money to you unless you own a considerable amount of equity in the property. The best thing to do is ask around at local lenders.
What the happens when the mortgagee never recorded deed for real estate property?
Assuming you mean that a release deed was never recorded when the mortgage was paid, you need to contact the mortgagee and insist it record a release.Assuming you mean that a release deed was never recorded when the mortgage was paid, you need to contact the mortgagee and insist it record a release.Assuming you mean that a release deed was never recorded when the mortgage was paid, you need to contact the mortgagee and insist it record a release.Assuming you mean that a release deed was never recorded when the mortgage was paid, you need to contact the mortgagee and insist it record a release.
What is PSI in Real Estate?
I think you mean "PMI" which is an acronym for Private Mortgage Insurance. It applies when more than 80% equity exists in the appraised value of a property. It results in higher interest rates and a higher mortgage payment.
What does equity release schemes mean?
Equity release schemes are used when someone is looking to earn some cash. They simply use their property to secure the cash, while still getting to use the property.
How do you find out if equity was paid off from your deceased parents homes?
If you mean that you want to know of the mortgage was paid off you can check the property in the land records for any outstanding debt. Those records are public.
