If somebody used the equity in their home to get a mortgage (home was paid off, except for $30,000, then home was refinanced with a $200,000 mortgage with $160,000 in cash going to homeowner, $30,000 to pay off the previous mortgage), is this mortgage eligible for loan modification? Or are only loans that were used [...]

We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes with land in that area for $175k. Is it better to get a home equity for the full cost of the Beach home plus any other small [...]

I own a flat which has approx £20,00 left on the mortgage. Can I take the equity out of this flat (approx £150,000) and put it towards a new flat? Sometimes you can obtain a Home Equity Loan and use the proceeds towards the purchase of the new one. Read the docs carefully. See whether [...]

My mother just passed away, and left the house that I am living in to my brother and I. What would be the best way to finance the half value owed him? If you want to buy him out, home equity may be the simplest (may not be the best) option./ addthis_url = ‘http%3A%2F%2Fwww.ucufutsal.com%2Fequity-mortgage%2Fi-want-to-know-if-i-should-do-a-home-equity-regular-mortgage-or-other-options’; addthis_title [...]

my mother in law is selling her £110,000 house to me for £80,000. Can i use the £30,000 equity of the house as my deposit for my new mortgage? If not could she sign over the house with its debt to me and I re-mortgage it to pay her and her debt? Thanks A couple [...]

I do my own taxes every year, but this year I have a question. I refinanced my mortgage in the spring. Had a significant amount of equity and decided to "cash out" some of my equity to help pay off some outstanding debts (car, student loan, credit card balance) and kept some to keep in [...]

My brother helped me buying the house off. Now I need to finance the house to pay him back. Will this be considered a new mortgage, a refinancing or an equity loan (since they have different interest rates…) thanks! Definitly go with a fixed rate first mortgage.. As the other responses tell you, you will [...]

So that your second payment will be based on a 30 year fixed rate rather than a refi. Will it be a smart thing to do. When you sell out you can pay the second mortgage with the first and still walk with remainder of equity. Is this legal and does it make since. I [...]

My boyfriend and I are buying a home together. He will be borrower and I will be co-borrower. He has a federal tax lien. Will it attach itself to the mortgage? How will it effect my rights? First of all I would be concerned if the lender will give you a mortgage if one of [...]

My parents who are both deceased gave me the 1st option to purchase their home. I want to buy my sisters out and I want to know if it is better to get a new mortgage or can I borrow money from the equity in the house and pay them off. There is no mortgage [...]