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| Question about :
Home_Equity |
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Pay off home equity mortgage or continue to use the interest for tax deductable reasons?
I have a home equity mortage that i am paying $100/month in interest - $1200 for the year.
I am thinking about paying this off, but is that better in the long run?
Am I better off using the interest for tax reasons or should i pay off the loan?
How much does the interest actually help out?
I am in the 25% $33,951 – $82,250 tax brackett, whatever this means.
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| By
silvermouse5150 |
Posted
on
08/10/10 Total Answers
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What would be better, a home equity loan or refinance at lower rate to add on to my home?
I'm wanting to add on to my home but I've never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?
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| By
BamaboynTN |
Posted
on
03/01/08 Total Answers
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Can I transfer an existing home equity loan, attached to my current residence to a new residence?
I took a home equity loan out a while ago and in this market, my equity has dropped considerably.
If I were to sell my home, I could pay off my 1st mortgage, but I'd still have a balance of about $30,000-$50,000 on the 2nd mortgage.
Do lenders transfer 2nd mortgages to a new home?
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| By
Love |
Posted
on
08/22/09 Total Answers
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What happens to Wachington Mutual home equity credit lines?
What happens to Wachington Mutual home equity credit lines? Do they stay open? Can I still draw on it.
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| By
Mike M |
Posted
on
09/26/08 Total Answers
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Can my partner get a home equity line of credit without my signature?
My partner and I are splitting up. We own a home together. Can she take out a home equity line of credit without my signature?
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| By
Vicky |
Posted
on
10/31/08 Total Answers
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Is the interest on $200k home equity loan used to buy a new primary residence deductible on Sch A.?
We are planning to rent our existing home and pull $200k equity from that home to buy a new primary residence. I am not clear about the $100k deductible limit on the home-equity loans. Can I deduct it on Sch A or against the rental income and is the deductible equity loan capped at $100k. We file married jointly and our AGI is $160k.
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| By
Rajan A |
Posted
on
05/03/09 Total Answers
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How find new home equity line of credit?
I have a home equity line of credit at 9%; I see them advertised at 7.5%. Any ideas on how I might find a better rate without closing costs besides just calling around?
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| By
Lighthearted |
Posted
on
03/25/07 Total Answers
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difference between a home equity loan and a consolidation loan?
What is the difference between a home equity loan and a consolidation loan? Which one looks better on your credit report?
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| By
zeishabush |
Posted
on
08/29/08 Total Answers
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Is home equity mortgage interest deductible for home office expenses?
The money was used to pay off credit cards. I am still paying on the home equity loan. If I do a home office deduction, which I qualify for in every way, can I use the home equity loan interest as a deductible expense?
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| By
mimi31211 |
Posted
on
04/13/08 Total Answers
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Is it smart to keep my home equity line as my primary mortgage or refinance to a 30 yr fixed?
The interest rate is 3.49% on the home equity line. Will this be going up soon? I just worry that it might go really high sometime.
The rate is tied to the wall street prime rate. Prime - 1/4%
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| By
Dakahuna4u |
Posted
on
10/30/09 Total Answers
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What is the difference between a HELOC and a Home Equity Loan?
I know a HELOC is a "Home equity line of credit" but what is the difference between that and a "Home Equity Loan"?
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| By
King Money 1985 |
Posted
on
07/04/06 Total Answers
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Can you pay off a home mortgage with a home equity line of credit?
My sister is asking me for money to pay up her home equity line. When I asked about her mortgage payment, she said she paid it off with her home equity line. Is that possible to borrow money on your home to pay off your home?
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| By
Karen S |
Posted
on
02/05/09 Total Answers
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Is it possible to refinance a home equity loan to be able to get a lower rate?
Just wondering if anyone had any information about being able to refinance a home equity loan to receive a lower rate and if so, how to go about doing that.
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| By
CHRISTINA N |
Posted
on
05/09/07 Total Answers
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Is home equity loan on a rental property tax deductible?
I own a home right now where I am still paying PMI. I also have a rental property. I would like to take a home equity loan on the rental property to pay-off some of my mortgage so I will not have to pay PMI to my first home anymore. Will the interest I pay on the home equity loan on my rental property be tax deductible?
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| By
redballoon |
Posted
on
09/29/09 Total Answers
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Can you still qualify for a home equity loan if you behind on mortgage payments?
I'm behind on mortgage payments because, i'm going through a loan modification, but i need money to pay for school, will i be able to still get a home equity loan. Because my credit is not amazing.
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| By
youngboycaz |
Posted
on
08/15/10 Total Answers
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What's a safe way to use my home equity to make money?
I own my home and don't have a mortgage payment. Can I get a home equity loan, and then invest that money into a safe investment (such as a bond mutual fund) and pocket the difference each month, assuming that the fund's monthly distribution is higher than the mortgage payment? Or, is there some other "scheme" I can set up that would be similar? I don't want to use the home equity loan money to start a business or buy real estate or anything like that - too risky. I'd prefer to stick with things like mutual funds. I just got to thinking that my home is just sitting here, not really going up in value (in my area, anyway), and that money isn't doing anything for me. Surely there has to be a safe way to let it make me a little money, right?
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| By
lieinourpig |
Posted
on
02/07/07 Total Answers
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How long do you have to wait for a home equity loan?
How long after purchasing a home do you have to wait to take out a home equity loan? Do you have to re-close? Are there loan you can take out beside equity if you own a home?
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| By
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Posted
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05/25/07 Total Answers
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What is todays interest rate on a fixed rate home equity line of credit?
I am asking because I am really nervous about applying for home equity for a roof starting very soon-probably next week.
My roof is leaking.
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| By
happydawg |
Posted
on
03/03/08 Total Answers
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Can you use a home equity loan for something other than a home?
I need a loan & some people had suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it's not for a home & I don't have enough collateral for the amount I'd like to borrow. I have a great credit score over 700, but also have student loans & other credit card debt, which I am very good at paying at, & make enough to make the payments comfortably. If I can't get a home equity loan, what kind of loan can I get, & at what amount & rate should I expect? I've looked around online, but all the bank terminology does nothing but confuse me, so anyone who could explain this a little more "user friendly" would be helpful!
It's not for home improvement. Actually, it's basically a business expense, but I'm not sure if a bank would consider this a business type of loan.
Oh, & one *minor* detail... I don't own a home :(
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| By
curiousgirl |
Posted
on
08/12/07 Total Answers
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Can I get a home equity loan if there are two mortgages on the house already?
My mom is planning to add my name to the title or deed for our home. She already has two mortgages on the home, the original and then a second that was a loan for the roof. Would I be able to get a home equity loan for this home. I live in Milwaukee, WI
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| By
micooooooo |
Posted
on
04/20/10 Total Answers
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can you refinance a home equity loan to lower the payments?
My mother signed a home equity loan with my grandfather who has just passed, and I am trying to help her pay the bills but the payment on the house is too high. If she refinances could her payment go down? Are there any other options, or any kind of loans or help from anywhere? I am totally clueless this was very unexpected.
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| By
erieanna c |
Posted
on
03/16/08 Total Answers
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Should I get a home equity loan to pay off back taxes?
I need to pay off about $30,000 in back taxes. Is it better to take out a home equity loan, cash in stock, or borrow or liquidate a 401K?
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| By
devin066 |
Posted
on
01/31/07 Total Answers
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Where is my best chance to be approved for a home equity line of credit?
I've slipped and let me credit score get a little low. Today I applied for a home equity line of credit through CITI where I have my first mortgage and was declined. I would like to obtain this loan to payoff credit card debt and get my finances under control. Where or what financial institution is my best chance to be approved for a home equity loan or line of credit?
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| By
Unbreakable |
Posted
on
05/27/09 Total Answers
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Should I use my home equity line of credit to pay off my car loan and part of my student loan?
By using the HELOC, it's going to free up several hundred dollars per month, and I can claim it as a tax deduction at the end of the year. On the other side, I'm eating up a sizable amount of home equity by doing so. I'm planning to pay them off either way--I can do it now with the HELOC, or after I sell my house, with the cashed in equity. Which route should I go? Does it make a difference?
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| By
djbod2006 |
Posted
on
04/05/07 Total Answers
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Will I be able to get a home equity loan if I am currently in a forebearance agreement with my mortgage?
We will be listed as "entering foreclosure" until September, but have already made 5 consecutive payments into the forebearance plan, including a large down payment. However, in order to get our finances in order and pay education costs, we need to take out a home equity loan. Will lenders approve the loan (if we have one great credit score, one bad, and a good income) in our current state? Or would it be rejected outright?
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| By
D G |
Posted
on
06/14/07 Total Answers
11 |
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| Question about :
Home_Equity |
Page : 1 2 |
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