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Showing results for tags 'heloc'.
Found 9 results
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Unison.com They Invest in your Home up to 20% You owe NOTHING until You Sell Your Home...! If Your Home Decrease in Value They take the Lost....If Value Increase. They take Their Profit Increase.
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I'm in the process of getting a HELOC and I want to know if that limit will weigh on what the CCC decides to give for a new CL?
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Hi, I am located in CT. (a judicial foreclosure state) I owe $295,000 on my first mortgage (which is current with Bank of America). My home value is $183,000 I have not paid my Green Tree 2nd since 2011. The amount owed is $48,000 At this point a local law firm has begun attempts to collect the debt, and I assume at some point in time they will eventually sue me. I've made 2 settlement offers thus far, one for 5% and another for 10% both denied. They came back and said that they will not go below 50%. At this point I'm holding off on making anymore settlement offers. I provided them with a debt validation letter, a recent CMA by a local Realtor. I also provided them with a copy of a faxed document form the original loan originator saying that I was denied the loan that is dated about 10 days after I signed the loan documents. What do you think my next steps should be? I'm fairly sure they will not move to foreclose, they said something about moving to obtain a partial judgement, which I assume will be suing me on the note. I would greatly appreciate any insight and advice. Thank you in advance. -
There was actually a company briefly offering these at the end of 2013, but now it's gone... anyone know of anyone else doing these "crazy" sub-prime HELOCs? Would come in might handy actually... thanks!
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Hello, I am new to the credit boards and need some advice.I had a HELOC with Bank of America on an investment property. The house went into forclosure. I tried to short sale the home and had lots of offers, but Bank of America refused all of them and the house went into forclosure. It was an investment property. that was back in 2009. It took almost a year for the forclosure to take place which happened 1/2010 The DOLA according to EQ is 2/2010 The Bank of America HELOC account on credit report shows that the account is charged off with a past due balance of $92,091. In addition, I got a 1099-C from Bank of America back in 2011 for nearly $113,000. I can still login to my old account on the BofA web site and it shows my HELOC loan at a $0 balance. I have disputed with the 3 CRA's and they continiue to come back as verified. I use a pre-paid legal service to send a letter to BofA and still no response. Thats been over a month ago. Any advice on this matter would be much appreciated. -
I know I am putting the cart before the horse, but I am trying to get some ideas on how things might work if we do get the house we are trying to buy. The house was appraised last year at $137k, and we are getting the house for $105,000. We need to update the kitchen, and we want to consolidate some of our debt (too many small payments, plus we want to close some of the subprime products). I don't know anything about HELOCs or similar products. We would likely use Navy Fed because dh has an unsecured loan with them that he would like to consolidate, and because we have read they can do up to 95% LTV. How would they appraise the house or determine the value? How soon after closing could we do this? Would it be likely for them to do this if we have an unsecured loan that will be rolled into it? Are there fees/closing costs involved? Is this going to hurt our credit so soon after getting the mortgage? The updates on the kitchen will likely only cost $4,000. The rest of the money would go towards consolidating debt. When we get our tax refund, the bulk of that would be thrown at the HELOC/whatever too. This year is about getting our credit cleaned up, getting our finances under better control, and getting rid of some of the old accounts that we got when we first filed bankruptcy over 7 years ago. I'm just thinking about everything, and will have a bit more income next year likely, so I want to consider all the options. -
Purchased my home for $275,000, I put down $27,500; mortgage was $220,000 and had a HELOC for $27,500. Two years ago I put house up for short sale, had an offer on the house, bank accepted the offer then a week before closing the bank changed their mind and decided they were foreclosing on the house. Found that out when my agent went by the house and seen the stickers on the window. So at this point 2 years later I am still getting monthly bill for the HELOC. This is now more than the $27,500 due to the interest that is being added. The HELOC was done at purchase of house, I have not added anything to it. I feel it was part of the purchase of the house and should have gone with the foreclosure. The company that holds the HELOC says it is considered unsecured debt just like a credit card. Any suggestions on how to get this HELOC taken care of?
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I had a foreclosure 3.5 years ago. After the foreclosure my "20 HELOC" was not paid because the house was "under water". I want to apply for an FHA loan and my current credit averages around 650 and everything has been paid including the HELOC. My question is the the FHA time wait of 3 years start on the date of the foreclosure or when we paid off the HELOC. I keep getting different answers even from underwriters. One said if the HELOC was not paid though the foreclosure then it becomes unsecured debt just like a credit card and FHA goes only by the date of the foreclosure. Had another one tell me, no its from the date when the HELOC was paid off. Has anyone been though this similar situation? Just trying to get the right answer before we start the process. Thanks in advance -
hello first i want to say this forum and the information on it has been a great help in repairing my credit. i was able to obatain an NFCU rewards card with a 14,500 limit that i would have never known about if it were for you guys! thank you sooooo much! so now i am in the process of trying to refinance my HELOC on my home. it has a 105000 credit limit and a 95000 balance. my home was paid off before this and i had some repairs to make to it and paid off cars and remodeled my home a little bit. so my question is, how hard is it going to be to get this taken care of? my home is worth and appraises at 170-180k and i would need to refinance the 95000 so i can close that out and have a normal payment. i realize now after being on the forum and reading and educating myself that i never should have gotten one let alone thru the company i used. american general now springleaf because the interest rate is ridiculous and almost all of my payment goes to interest. i have a 914 dollar payment and almost 700 of it goes to interest. i pay extra as much as possible but its become a losing battle. its an 11 percent interest rate. now that i have repaired my credit i feel i should be able to obtain a refinance. my freecreditscore.com score says experian is 732 but i realize this is a fako or whatever they are called. any advice is welcomed and wanted. i just would like to lower that 900 dollar payment and have more of the payment go to the principle. what should my next steps be? thank you for your help!
