If you pay a creditor $1800 on account, would you be decreasing an asset and decreasing owners equity?
914491
If I understand this question, you, the company, is paying the creditor the money.  In this case, it would be a decrease to Cash (the asset) listed as a credit, and a decrease to a liability, such as accounts payable, listed as a debit.  In other words, these would the the journal entries:\n                           Debit                Credit\nCash                  1800\n      Accounts Payable                 1800
1164912
Depending on your credit profile (A-paper, Alt-A or Sub Prime) will be a major determining factor to this answer. The quick answer is yes, however this needs to be quantified.\n\nIf you are an A-paper borrower there are a few lenders who allow you to use the value of a new appraisal to take cash out over and above your purchase price. If however your looking to just recover the money you put down (ex. 20% down payment) then the answer is also yes. \n\nIf your more in the Alt-A or Sub Prime arena your most likely going to be capped using the purchase price as the value of the home until you have 6-12 months seasoning in the property. You should be able to cash out the equity you have now but it may not be as much as your looking for.\n\nAs to payments... It should not make the payment skyrocket but this will all depend on what type of loan/loans your doing, your loan to value, credit etc...\n\nIf you would like to discuss your specific scenario drop me a line.\n\nKevin 866-562-6838 x 106\nkruorock@firstratelending.com
172445
Usually not. As long as all the rules are followed correctly and you don't take the funds out or do some kind of prohibited transaction. Have your lawyer or CPA review th plan with you to make sure it all goes the right way.\n\nsorry for your loss.
331983
you don't want to find that out. penalties and interest can get costly. if you did this i suggest you amend the return asap.
728137
You will need to pay $888.49 per month for the first 11 months and a final payment of $888.47 in the twelveth month.\n\nGood luck to you.
810388
Yes.  If you have instant equity, meaning that you bought a house priced under the value, you can use that equity immediately.  You can take out a line of credit or a second mortgage.  Don't worry because as soon as you move in the offers for loans and credit will come rollin in faster than you read them.
845020
the terms of your loan will include paying off any existing judgments; the lender might lower the loan amount paid out to you and send the creditor the amount owed in the judgment.
1018559
Depends on credit score, many lenders will do it, they will just make you pay the behind amount from the refi amount/cash out amount.
888447
Well...its kind of a double edge sword here......\nOn one hand..he is correct......If you have excellent credit and you own your home to use as collateral...then you won't need any money down.....\nBut...If you don't have perfect credit or anything to use as collateral..then you will need a substantial down payment and the money needed for repairs to the distressed home to fix it up and make a profit.\nAfter doing a couple homes..then you should start having the ability to continue as he does......
974927
trade it in for a new one, you will have negative equity and your new car payment will be higher..but that's easier than getting a loan to pay off your current vehicle.
72001
It depends on how much you owe at which rates, and how fast you're paying them off.  If it costs you $700 to drop 5%, you would be ahead after just a year if you owed $700 / 0.05 = $700 * 20 = $14,000.
38075
Probably not.\nMost HELOC's come with a $500 cancellation fee if the loan is closed (sold, refinanced, etc) in the first 3 years.\n\nEven if they refinance you at no cost to you, you will have lost whatever principal balance you've paid down in the interim.\n\nBasically, you would have to save enough money during those 3 promotional rate months to offset all your costs.  (And if you have that $500 cancellation fee, that won't be too easy)
283670
Yes, you can. Be aware that your current broker will likely charge you an account termination fee.
511733
Depends.  There should be an explanation as to what those details are (interest payments, fees).  Call your bank and ask for an explanation if you still don't understand.
754770
If possible pay more than the min due.  If you pay the min due it will be like that forever and you will pay tons in finance charges.  To you have any assets you can use?  if you have a  house take out a line of equity on your house to pay off your bills.  your payments wont go up much for 4,000.  this will help your credit to clear all those credit cards.
555867
the line of credit would be lower interest than any loan,  I would probably leave it as is
1155603
The advantage is in knowing that you have equity in your home already....Don't let the seller know what it got appriased at - ok - - -Now - if you needed help with the closing cost, that is another matter, the seller could help with closing cost, and you would make a offer to the seller to adjust the purchase price....I do not recommend this - but it has been done in the past, expecially if you already have your financing approved.  The advantages is down the road, if you wanted to do a line of credit - you have the equity of 11,000 to use - for newer carpet - etc....  I would just let it build since home markets are on the rise in different areas, and on the decline in others.  Good Luck.