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A person would need a line of credit if they wanted to take out a 'personal' loan, maybe for cosmetic surgery or dental implants, or anything you may need and not have the cash for.
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∙ 12y ago
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Why would someone need an equity line of credit?
Equity line of credit is typically used in reference to a home loan. The amount of money paid into your home is your equity. With a home equity line of credit, it acts like a credit card. One may need it if they can not qualify for a credit card, or a higher credit limit on their cards.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
NEED TO CHANGE CREDIT CARD NUMBER FOR CONTINUED PAYMENT ON-LINE?
NEED TO CHANGE CREDIT CARD NUMBER FOR CONTINUED PAYMENT ON-LINE
Do recorded mortgages need an amount?
No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.
Do I Need To Reapply For A Line Of Credit If I Previously Had A Line Of Credit That I Paid Off?
A line of credit does not have a fixed time period such as other loans. It’s an adaptive way to get cash when you require it without having to re-apply.
Why would someone need an equity line of credit?
Equity line of credit is typically used in reference to a home loan. The amount of money paid into your home is your equity. With a home equity line of credit, it acts like a credit card. One may need it if they can not qualify for a credit card, or a higher credit limit on their cards.
Is a line of credit mortgage bad for your credit score?
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
NEED TO CHANGE CREDIT CARD NUMBER FOR CONTINUED PAYMENT ON-LINE?
NEED TO CHANGE CREDIT CARD NUMBER FOR CONTINUED PAYMENT ON-LINE
Do recorded mortgages need an amount?
No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.No. Some are in the form of a credit line or commercial credit line and no amount is recited in the instrument.
Do I Need To Reapply For A Line Of Credit If I Previously Had A Line Of Credit That I Paid Off?
A line of credit does not have a fixed time period such as other loans. It’s an adaptive way to get cash when you require it without having to re-apply.
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.
Where can one find a comparison of rates for an equity line of credit?
A home equity line of credit is revolving, variable-rate line of credit that uses your home as collateral. You can use the money whenever you need it, with no fixed schedule, and you will pay interest monthly.
Do you need a line of credit to rent a house?
Yes ... or a co-signer will be required.
Do you need credit to take over a persons mortgage?
Yes. You would need to be approved by the bank and it would check your credit record.
Will I Need Personal Guarantee On Loan Or Credit Line?
Your guarantee might be needed with respect to the type and size of the credit request.
How does a line of credit work?
A line of credit is basically a loan that you only draw on periodically as you need it. Lending institutions, such as banks, will open them for you or your business based on your credit worthiness and charge you interest on the outstanding balance. It doesn't usually cost anything to have a line of credit, but you will have to pay it back with interest once you draw on it.
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.
