I have just been reading about the increasing numbers of budding buy-to-let empires in the papers. I came across the phrase Mortgage Equity Withdrawal and wondered what exactly it meant, in particular in relation to the buidling of a buy-to-let portfolio. I have a basic understanding that it occurs when the value of a property [...]

With one of the ‘big insurance companies’ or a ‘recognised’ organisation, quite easy .. the problem being (of course) that they will rip you off .. Say the house is £200,000. You go 50/50 – so you take a Mortgage for £100,000. In 10 years time the house may be worth (say) double = £400,000. [...]

i have a 30 yr fixed mortgage currently at 6.3% it came to my attention that i can get a home equity line of credit to pay off my first mortgage. the line is offering me 4.25% which is there prime plus. it lowers my payment almost 200 dollars a month. should i do this? [...]

Our interest rate on Mortgage is 5.87%, but we have a variable rate currently at 7.5% on the Equity Line. Now that we have exhausted the Equity Line we are having trouble carrying both payments. Will the payment be lower if we combine the loans and refinance? obviously if you could refinance into one fixed [...]

I have a credit score of about 680 and lived there for 15 years . I owe 185k and the house is worth 410. I am over 15k in credit card debt and had two late payments. I am also retired and on a penison and social security Your best bet is to go to [...]

I am looking into getting a reverse mortgage for my father. He lives in the Miami, Florida area. About a 2 years ago he refied and I want to know whether or not he will be qualified because of the last of equity. It is usually about 50%, but they also hold his others debts [...]

I’m looking for about 35k to 40k second mortgage; 133k in equity but low FICO scores. I need help for a short term (possibly 6 months) and I will pay whatever interest rate is required. in this day’s market you will have a hard time — you might be better to sale the house and [...]

If a homeowner has a substantial amount of equity built up in a home, what happens to the equity if the homeowner defaults on their mortgage? In other words, what happens to that extra money if the bank sells the home for more than they have loaned out on it? Just about everyone is wrong [...]

mortgage and equity loan, does one have a better interest rate than the other overall? does an equity loan have an advantage or is it almost the same thing if i just got another mortgage? A mortgage will likely be at a lower rate, but will have closing costs and will take longer and require [...]

I took at 80%/20% loan to get into my first house. 5 year fixed ARM (4.5%) and equity line for the 20% @ 10% (adjustable). I have never missed a payment on either of these loans over the 3+ years. I would like to turn this loan into a loan to eliminate the equity line. [...]