Comments on: The Flexibility you Need: Benefits of Home Equity Lines of Credit http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/ Fri, 31 Dec 2010 19:03:42 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: B_dub http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7352 B_dub Tue, 03 Aug 2010 07:43:27 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7352 To build equity in your home you must either pay down the mortgage or have the market value go up. Your lender will decide if you have equity in your home. They decide how much your home is worth then they deduct how much you owe the difference is the amount of equity that you have. Lastly, I hate to tell you, their are only three ways to get equity out of a home. 1) Get an equity line of credit. 2) Refinance, and pull some money out. 3) Sell the property. To build equity in your home you must either pay down the mortgage or have the market value go up. Your lender will decide if you have equity in your home. They decide how much your home is worth then they deduct how much you owe the difference is the amount of equity that you have.

Lastly, I hate to tell you, their are only three ways to get equity out of a home.
1) Get an equity line of credit.
2) Refinance, and pull some money out.
3) Sell the property.

]]> By: helenta35 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7357 helenta35 Tue, 03 Aug 2010 02:56:34 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7357 I am a mtg broker. I would do a fixed HELOC and combine all your debt into it. If you pay all your debt separate, you are paying interest on the cars, credit cards, etc which are NOT tax deductible. Your mtg debt is. Congrats on having your home free and clear! I am a mtg broker. I would do a fixed HELOC and combine all your debt into it. If you pay all your debt separate, you are paying interest on the cars, credit cards, etc which are NOT tax deductible. Your mtg debt is.

Congrats on having your home free and clear!

]]> By: Alucardthedeadone http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7345 Alucardthedeadone Mon, 02 Aug 2010 16:00:21 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7345 ya but schooling should have no base on if you get a lone or not. ya but schooling should have no base on if you get a lone or not.

]]> By: FilmBorne http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7343 FilmBorne Mon, 02 Aug 2010 04:48:40 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7343 That's mess up you know. It causes recession and massive corporate bankruptcies. This country... We got idiot bankers, and greedy executive screwing everything up. Now, they can't fix it the way it was. We will be heading dark ages in few years. That’s mess up you know. It causes recession and massive corporate bankruptcies. This country… We got idiot bankers, and greedy executive screwing everything up. Now, they can’t fix it the way it was.

We will be heading dark ages in few years.

]]> By: aimstir31 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7351 aimstir31 Mon, 02 Aug 2010 02:14:50 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7351 Your home is not a bank, but too many people have fallen into thinking equity is there for the spending. Do some research about this. http://money.cnn.com/2006/11/03/real_estate/home_equity/index.htm The thing about your question that scared me is that you owe more than $13,000 in debt, but you want to put another $30,000 into your house. Why not work on paying off your debt first? Also, before adding an addition, consult with a real estate appraiser to make sure you don’t over-improve your house for your area. Your home is not a bank, but too many people have fallen into thinking equity is there for the spending. Do some research about this. http://money.cnn.com/2006/11/03/real_estate/home_equity/index.htm

The thing about your question that scared me is that you owe more than $13,000 in debt, but you want to put another $30,000 into your house. Why not work on paying off your debt first? Also, before adding an addition, consult with a real estate appraiser to make sure you don’t over-improve your house for your area.

]]> By: mattt1ooo http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7347 mattt1ooo Sun, 01 Aug 2010 19:43:23 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7347 BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!! In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World! BANK OF AMERICA IS THE MOST CORRUPT BANK IN THE COUNTRY!. Bank of America harassed me, ruined my credit, charged me over $800 in fees over a 10 day period, tried to humiliate me, and never stopped calling my house- all because of $50 overdraft!!
In one day I was charged over $250 in overdraft fees because of a company that took advantage of my bank account- BofA charges more fees than any bank in the World!

]]> By: goldy1011 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7348 goldy1011 Sun, 01 Aug 2010 13:08:05 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7348 what is the title of the previous part and the title after this part....kindly answer... what is the title of the previous part and the title after this part….kindly answer…

]]> By: Alucardthedeadone http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7342 Alucardthedeadone Sat, 31 Jul 2010 14:32:52 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7342 No it is not, the vale of the house is always fake, the bank might say 1.5mil, but if you can only get a bit or price of 1.3mil then it is vale is 1.3 mil. If you get 1.7mil then it's vale is 1.7 mil. No it is not, the vale of the house is always fake, the bank might say 1.5mil, but if you can only get a bit or price of 1.3mil then it is vale is 1.3 mil. If you get 1.7mil then it’s vale is 1.7 mil.

]]> By: munna_bd1 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7355 munna_bd1 Sat, 31 Jul 2010 11:45:46 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7355 You can't get a home equity line of credit if the home is not in your name. The person requesting the credit line must be on the primary mortgage. You can't get a home equity line of credit if the home is not in your name. The person requesting the credit line must be on the primary mortgage.

]]> By: lamontnow http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/comment-page-1/#comment-7354 lamontnow Sat, 31 Jul 2010 10:38:08 +0000 http://www.williamsoncountyrealestatenews.com/the-flexibility-you-need-benefits-of-home-equity-lines-of-credit/#comment-7354 I agree with Ibu Guru, I think you are making a big mistake, do not use a loan to get another loan, payoff the first house and save to purchase another, remember that the people who are being foreclosed are those that have mortgages. I agree with Ibu Guru, I think you are making a big mistake, do not use a loan to get another loan, payoff the first house and save to purchase another, remember that the people who are being foreclosed are those that have mortgages.

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