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14 April 2010
Did you go through a foreclosure or obtain a loan modification in the past year? Do you expect to do so in the near future? You could wind up with an unexpected and unwelcome tax bill.
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16 December 2009
Home equity loans, which practically disappeared over the past year following the collapse of the housing market, are making a bit of a comeback.
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19 September 2009
What's the difference between a second mortgage and a home equity line of credit (HELOC)? Both offer ways to tap into, or borrow against, the equity in your home.But there are some significant differences.
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24 August 2009
With credit card interest rates rising right through the roof, some homeowners may be wondering whether a home equity loan or line of credit (HELOC) is the way to get their debts under control.The answer is a definite maybe.
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7 June 2009
Your home provides shelter and warmth.Your ATM machine provides easy access to cash.If anything should be learned from the recent housing market crisis, it's that the two must never be confused.
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30 April 2009
It appears that reports of the housing industry's death have been greatly exaggerated.Some sectors of the industry, such as home sales, continue to slump, but the home remodeling business is booming.
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8 April 2009
If you find a mortgage lender that will refinance your first mortgage, consider asking for a loan large enough to pay off your second mortgage, too.
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23 March 2009
One bank's decision to slash home equity lines of credit has spurred a class action lawsuit.Is the argument legally valid?.
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26 February 2009
The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well.
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7 January 2009
To consolidate debt or not to consolidate debt used to be a foregone conclusion.When housing prices were rising and home equity was plentiful, debt consolidation via a home equity loan was a no-brainer.Today's plummeting market, however, has changed the playing field.
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30 December 2008
The tables have turned in the home improvement world.During the red-hot housing market, finding a contractor who would perform simple home improvement jobs was nearly impossible.As the market has iced over, renovation specialists are finding that the shoe is definitely on the other foot.
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30 September 2008
A new service allows homeowners to cash out their equity without incurring interest charges and loan repayments.
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27 September 2008
HELOC lenders are now realizing that they were overly enthusiastic about approving big credit lines for borrowers.As they try to reduce their risk exposure, some homeowners are getting a surprise notification that their HELOC has been cancelled.
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1 September 2008
Find the answers to all your questions about home equity and home equity debt.
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1 September 2008
The FHA's home equity conversion mortgage program (HECM) is designed to let older homeowners convert equity into cash without selling their homes.HECM loans are a type of reverse mortgage, and are made by banks, credit unions, and other typical mortgage lenders.
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14 August 2008
Private mortgage insurance (PMI) is typically required for homeowners who have less than 20 percent equity in their property.But PMI providers are suffering huge losses, and that may translate into higher costs for consumers-even if they don't actually need coverage.
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4 August 2008
Two years ago, the easiest way for most Americans to raise fast cash was through a home equity loan.But nowadays, those same home equity products are among the hardest to qualify for, as lenders continue to tighten up on their application rules and purse strings.
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22 July 2008
Today's housing crisis was fueled by home equity borrowing that turned houses into credit cards or ATM machines, and put Americans into dangerous debt.
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2 July 2008
As summer swelters across the U.S., so does the credit crunch.Many banks are putting home equity loans and HELOCs in the deep freeze, locking down home equity credit.Homeowners trying to continually tap their home equity now have severely limited options and solutions.
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24 June 2008
Take a break from daydreaming about leisurely vacations in your Hawaii condo, and start researching your options for financing that second home.
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