I live in Philadelphia, PA and own a home. Now a days everyone is talking about re-financing their home loan. Someone told me that even the President has urged people to.
I had a house in GA which is foreclosed. I also had a second mortgage on it for $36,000. The collectors are calling me daily to pay the debt. Am I required to pay back the 2nd mortgage even though it was secured against my house?
If anyone is researching companies to refinance to get a loan on the equity in your home, do not use Quicken Loans, Inc. The company is misleading from the first conversation and you will end up losing any money they request ($300 - $750) for a "Good Faith Estimate", not to be charged until your home is appraised once you have been approved.
My husband and I live in the state of TN. We are having some financial troubles so therefore we have gotten behind on our mortgage through Green Tree Servicing. They are threatening to foreclose. Does anyone have any suggestions on what we can do?
When refinancing a home mortgage you will get a lower interest rate if you agree to pay 1 or 2 "points". The loan manager may offer you "6.75% with no points" or "6.25% with 2 points".
Without delving into the financial cogs that make home equity loans work and by avoiding all of the percentage signs and APR numbers, here's the ultimate question. Are home equity loans good or bad ideas?