If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?

Posted on July 25, 2011 by Admin

Question by indygyal: If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?
I have a 2 family home in Massachusetts. The value is 246,700.00. I owe only 139,000.00. Can i refinance and use equity to buy another home in Florida. I plan on moving to Florida eventually and would like to use the money for a downpayment.

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Q&A: Are interests from a loan to update a roof tax deductible?

Posted on July 24, 2011 by Admin

Question by gtmds: Are interests from a loan to update a roof tax deductible?
I live in Florida-US and am updating the old roof of my home with a completely new one before the next hurricane season. I assume that this won’t be a tax deductible expense if I pay for it directly, but would I be able to deduct interests of a home equity loan used towards this renovation?

Best answer:

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Q&A: “Can I have my mom, add my name to her deed, so I can get an equity loan to move her to Florida?

Posted on July 23, 2011 by Admin

Question by ann: “Can I have my mom, add my name to her deed, so I can get an equity loan to move her to Florida?
My mom is disabled, she has medicare, and some form of Medicaid, there are no liens on her home., she has no cash assets. I need to move her to Florida. Her credit is poor., and we don’t want to take a reverse mortgage to get funds to move her to Florida.

Best answer:

Answer by irenkedezso
Yes you can transfer the Deed in your name and get a line of credit to help her move and take care of her

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What are our home loan options?

Posted on July 22, 2011 by Admin

Question by reese: What are our home loan options?
My husband and I are looking to buy a home in the very near future but we’re having trouble finding the right loan. My husband has spoken with a loan officer (she may be a mortgage broker, I’m unsure) who says he cannot get a loan right now because he has a loan on a condo he purchased just over a year ago.

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Can they foreclose if I only default on my home equity loan, not my first or second mortgage?

Posted on July 21, 2011 by Admin

Question by keithgle: Can they foreclose if I only default on my home equity loan, not my first or second mortgage?
I’m being forced to relocate for my job, and I’m trying to avoid foreclosure or a short sale- I’d like to try to keep current on as much of my debt as possible. My home is currently worth less than half of what I owe (in florida). I do not qualify for refinancing because ratio of the value of the house to loan value. The notes are held by Freddie Mac. I am hoping that they will write a portion off, with the understanding that I’m still paying on a value far higher than I could sell for. (Mortgages worth $ 17K, HELOC of $ 45K, current home resale value ~$ 110K. I just want to be able to rent it and keep my head above water. Help.

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Q&A: i live in Florida, and am looking for a company who will give an equity loan on my mobile home and land.?

Posted on July 20, 2011 by Admin

Question by cusmilinfla: i live in Florida, and am looking for a company who will give an equity loan on my mobile home and land.?
it has not been easy, but anyone who can help me plase do.. they are both paid off and worth $ 100,000..

Best answer:

Answer by Cathy V
Try this website. They’ll match you with several lenders in Florida each one with different pricing and options. You can then compare and choose the best: the one that saves you more money while offering a lower rate, lower fees and lower monthly payments.

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what happens in a home equity default when the 1st mortgage is current?

Posted on July 19, 2011 by Admin

Question by crisislooming: what happens in a home equity default when the 1st mortgage is current?
If I can not pay a home equity line of credit with one bank but I continue to pay the 1st mortgage what action does the home equity line of credit holder take? Both loans are up to date, but I will be unable to pay the HELOC much longer. I do not live in the property in question. It is vacant and with a realtor but it is in Florida and the value is dropping almost daily due to the crisis in the real estate market in florida. Should I let the banks forclose?

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Instant Equity for Home Loan Remodeling

Posted on July 18, 2011 by Admin

FOXBORO, MA (PRWEB) October 26, 2006

Easy Apps Mortgage, a mortgage broker based in Foxboro, MA, with offices in Florida, is working with selected wholesale lenders who are now offering homeowners instant equity in their home for remodeling projects. The announcement was made by company president Robert David.

When a home owner decides to remodel or add on to their existing home, many home owners look to acquire additional financing for their project. Most lenders will lend funds based on the current equity in the home. With properties values flatting, or in some cases, declining, it is difficult for many home owners to get the needed financing.

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Florida’s Affordable Loan Modification Company Keeplivinginyourhome.com Comments On Rise In Foreclosures

Posted on July 16, 2011 by Admin

Boca Raton, FL (PRWEB) December 21, 2009

With the current unemployment rate in the U.S. rising to nearly 10%, the foreclosure crisis has affected nearly 938,000 properties between July to September, compared with 890,000 in the previous quarter, and a 23% increase from the third quarter of 2008. According to RealtyTrac, if this trend continues, foreclosures may hit about 3.5 million this year, compared to 2.3 million homes last year.

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can we get a home equity loan?

Posted on July 16, 2011 by Admin

Question by Asdlkfhjskldja Sdkfjhasdkjl: can we get a home equity loan?
ok so like we want a home equity loan and we want one off my grand fathers house he has been there for 17 years and has been paying 1100$ a month he owes like 230000$ or something but hes payed half of his house off we believe he lives in Massachusetts and we want the loan for about 3000$ will they give it to him?

also a while back there was anther mortgage taken out for a condo in florida for 1000$ a month so all together he is paying 2100$ a month for his house and the condo can he get a home equity loan on his home? \

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