How soon can I get a home equity loan?
397882
You can get one now. There's no waiting period to get an equity line as long as your lender can verify with the county recorder that you are the recorded owner. (usually it takes a few weeks after purchase to show the new homeowner in the public records.  Oh, and its usually easiest to get your equity line through whomever you have your mortgage with!
986772
if you own the house, a home equity loan would be in your favor.. i don't think you can use the house 4 collateral, if you don't own it.. but i could be wrong..
79514
No, however you may be able to refinance that loan with a home equity loan and deduct the interest on that.
78130
It all depends on what your credit is.  First thing, I would go to your local bank.  Wells Fargo has REALLY good home equity lines of credit (HELOC).  Now, if they decline you, you still have a chance.  Find a local mortgage broker who has access to a lot of banks.  Depending on what your credit is and how much you owe on your house, and what your house is worth... they should be able to find you something.  If you want to ask more specific questions, feel free to email me at matt@eastbaylending.com
1182257
good luck trying to get one..\nhold off on another loan; work to pay off your current ones as of now..
698950
i currently work in loans at a bank, and along with her mortgage she can also get a home equity if she has equity in her home, buying for less than the property value, also need to check for covenants to add on to her home, there are lots of options out there, maybe she needs to get a second opinion from another bank not involved if the current one doesn't want to help. good luck!
946181
Depends on the state you are in. Check with your bank first. They might be willing to do it. Most lenders won't want to mess with that. A land/home package would be better and get you a better interest rate.
940371
You should be able to technically do this as long as the new home equity loan + the 1st mortgage are not more than 85% of the home's total value.  This is generally the cap.\n\nSo if you have a home that's worth $200,000: 85% of that is 170,000.  As long as the new home equity loan and the mortgage balance added together are less than that amount, you should be OK.
1082415
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1023231
If the home equity loan is on the home you are selling, you will be required to pay it off when the home is sold. A home equity loan or line of credit is treated like a second mortgage. You might consult with your lender (with whom you have the home equity loan). If you will be purchasing another home, you might be able to switch the home equity loan to your new home, depending on how much money you are putting down, as well as a number of other factors as determined by the policies of your lender for the home equity line of credit. I had a client do exactly what I have described above. But if you are not purchasing another home, you will have to pay it off at the time of sale, because you no longer have the "equity" (in your home) which was the collateral for the loan when you got it.\n\nA home equity loan is granted when you have invested money in your home. You could have paid a large down payment, or you could have had the loan for a long time so you have already paid off a good part of it. The amount which a lender will lend to you in the form of a home equity loan depends on the value of your home compared to the amount you owe on your mortgage. The difference is the equity you have in your home. Thus another way to acquire equity in a home is if home prices have risen a lot since you purchased your home. There is usually an appraisal to acquire a home equity loan to determine the value of the home.
814482
My bank charges $300 to open a home equity line of credit. They will waive the fee if I keep the line of credit open for two years (don't have to tap the line of credit, i just have to keep the account open for two years.).
67916
No. Most lenders are willing to work with you after 2 years from date of bancruptcy being finalized. Assuming you have maintained a decent credit profile with no other negatives. They may grant you a loan, but the interest rate will probably be higher! I would rather pay a higher interest now, in order to be able to buy something now, and at least your gaining equity at the same time. Waiting 7 years to buy, with the bancruptcy off your record, may get you a favorable interest rate, to buy, but by then you may get priced out of the market. You can always re-fi later at a more favorable rate. Good luck.
1144160
you can request that your loans be deferred. they can usually defer them for one to three years, so you can have time to get your feet under you to be able to make the payments.  you can also ask them if they will work with you on the monthly payment amount.  they may be able to let you pay a smaller amount each month.
776448
Assuming you have a heartbeat, you will get a loan.\n\nFrom there, your credit, remaining assets, income, and debt ratios will all come into play as your interest rate is determined.\n\nBut you can pretty much have been foreclosed on yesterday and get a new mortgage today if you put 30-40% down payment.
1169645
I would do the home equity loan because your interest will be tax deductable.
902726
Sell your home quickly and walk away with the $60,000 equity in it.  $60,000 is better than nothing, which is what you will get if you wait any longer.\n\nHave you tried to get a HELOC?  You could take out money from that and pay off your arrears to get yourself out of foreclosure.
868386
Go to your bank, find out about home equity loans, you will have to know if there is equity in your house though, also refinancing, you can go to yahoo and find out also google, but your local bank should have something that you can do. or either the mortgage company you are with. give them a call, they should also be able to help you with that.