What happens if I take out a home equity loan with no plans of paying my mortgage or home equity loan back?
- It could be considered fraud. Depends on whether the banks will pursue it. In any event, if the house goes to foreclosure, the first mortgage can come after you for for the balance of what the house sells for and what you owe; and the equity line can also come after you. By that I mean judgments, wage garnishments, bank account seizuers and credit issues, all of which can affect your life for the next 10 years including getting a job, renting a place, etc
- Your house will be confiscated, you and your wife's wages will be garnished, and you will end up paying a lot more than you borrowed with the accrued interest, late payment penalties, and court cost. And you will destroy your chance of ever buying a piece of properly or anything that requires getting a loan. Leave your wife before she does anything that stupid and drags you down with her
- it is because of people like your wife and banks that were stupid enough to approve a loan such as this that has gotten us the tax payers to the point of having to pay for your mistakes. Bailout. Be responsible, and do the right thing
- Fraud. Plus in this dates market, good - luck in getting it
- No matter what your intentions maybe it’s probably mute at this point; Good luck trying to get a bank to issue an Equity line of credit
- It 'could' work. but, even if your Wife does it. you also are responsible! I'd say plan an out of Country move to a Country that does not have 'Extradition' Agreements / Treaties with America. You can live a NICE COMFORTABLE life! Can't be any worse that the SCREWING we are getting from bushit & congress. for USD 700 BILLION Dollars!
- Yes, this is legal. Thousands of people are doing it. They are literally bankrupting the banks. do not you watch the news? Of course they will come after their 220k after foreclosure
Knowledge Base
is double that of the quotes i got online from brokers. is it better to go with state farm or one of the cut rate insurance companies? i mean in the event of an accident and getting paid. i also rent a lot of cars and will be using the
i have no credit and want to apply for credit card with low interest so anybody knows where i apply for a good prepaid credit card with bad credit. if
my friend's primary home mortgage is paid off. she want to take a mortgage on the primary home in order to buy a second / vacation home. can he deduct
a reverse mortgage is a sum of the difference between what is owed on a home outstanding mortgage and the "fair market value" of that home your equity. i have
i know there are many different sites where i can compare auto insurance quotes. i am wondering if there are any sites that have local agents available on them? my local agent just retired and i am looking around for new coverage, i just do not want to call everyone
Knowledge Base: Mortgage
lately, a lot of mortgage solicitors have been calling. i tell them that i do not have a. i ask them to hold for a second while i pull up: donotcall. gov / complain. i told one i'd lost all my money on online and that's why he should just
as for me, i have got my own style, and priorities, and while i can dress for success without taking out a second mortgage, i may not be the most fashioned entrenched. how about, "i will bet i can make that for cheaper. ". i generally just leave. when i
the high gas prices can be laid at their feet, as well as the mortgage crisis. i voted for bush the first and second time. i admit my mistakes your wife had to be. no of course not. why would he. he was everybody he trusted fault as far as
i am planning on purchasing an investment property with a hundred percent cash. i can purchase the property at 60 percent of market value. i then plan on pulling a loan out for 60 percent of the market value. would it be considered a mortgage or a home equity loan?
with your credit score, that might be okay for your second, but your first ought to be in. with regard to mortgage credit grading, alt - a and b / c programs are priced differently every. i would tell you to get dinged for a credit card, however this could
mortgage. reverse mortgages are only sensible when interest rates are much high than they are now. reverse mortgages are only sensible when interest rates are much high than they are now. reverse mortgages are limited to only 50 percent to 65 percent of the value of the property. some not
warren buffett is the second richest. he makes his money through knowing which companies. and their jobs are extremely stressful. some say it is worth it, i pay my mortgage because. sales. sales people get paid a ton of money for a very good reason, they are paid almost exclusively
Knowledge Base: Equity Mortgage
we're in our 50's, with a house that's worth twice of what's left to pay off on our mortgage. we were hoping to use the equity for our son's college in a couple of years, or as a retirement cushion, but want to pay off some major credit card burdens.
this way i will eliminate the usd 120, 000 i owe on my 1st mortgage and grab usd 100, 000 cash off the equity loc. they can have my house and ruin my credit for usd 220, 000. this cannot be legal is it? i really would not do this
i am planning on purchasing an investment property with a hundred percent cash. i can purchase the property at 60 percent of market value. i then plan on pulling a loan out for 60 percent of the market value. would it be considered a mortgage or a home equity loan?
we want to relocate to my home town to better off my children this would give them a better school district and we would be alot closer to my family, just how do we go about doing this? we have a mortgage on the house we live in now and
i have a fixed mortgage at 6. 5 percent but my home equity loan just dropped down to 4 percent. would it be legal to pay off my entire mortgage using my home equity line of credit? refinancing would not do me any good since no one can match the
i currently own a two family house with a mortgage and equity loan up to it is current market value. can i qualify for another mortgage because i want to buy another house. and how much would i have to put down? bearing in mind that i am not interested
a quick example. let's say you buy a home for usd 100, 000 cash. there will be some closing costs that vary depending upon the state. let's say they are about usd 1000. a quick example. let's say you buy a home for usd 100, 000 cash. there will be
Knowledge Base Categories:
- Loans
- Secured Loans [7]
- Student Loans [10]
- Refinancing Loans [5]
- Bank
- Internet Banks [8]
- Capital Bank [5]
- Equity Bank [7]
- Credit Cards
- Credit Card Interest [14]
- Credit Card Payment [13]
- Apply Credit Card [21]
- Mortgage
- Mortgage Lenders [13]
- Equity Mortgage [14]
- Mortgage Rate [13]
- Tax
- Tax Law [14]
- IRS Tax [9]
- Business Tax [3]
- Insurance
- Free Insurance Quotes [8]
- Auto Insurance [15]
- Online Insurance Quote [12]
- Business
- Web Business [9]
- Business Plans [6]
- Franchise Business [4]
- Investments
- Stock Investing [8]
- Buy Stock [12]
- Stock Quotes [3]
If you found your content or copyrighted material published here, please contact us
Skin: grey-blue
Time: 1.112 sec.
Mem: 3.420 MByte