Question: Dear Steve, My sister has been divorced for approximately seven years and left the marital home approximately eight years ago. A home equity loan was taken out right before she separated, but in the divorce decree, it was stated that her ex-husband was responsible for the loan because he kept the house. A couple …
Question: Dear Steve, I am a single registered nurse age 51 who bought my first house in 2018 in California. I make just enough money to pay for everything, with an extra part-time job that I do on the side as needed when I need extra cash. I was recently turned down for a HELOC …
Question: Dear Steve, Had a bankruptcy in 2010. At first, it was to discharge everything then it was changed. The house was going into foreclosure with a 2nd HELOC. We walked away and left. Then 10 months later and negotiated with the 1st and got back in. We thought the 2nd was discharged. In 2020 …
Question: Dear Steve, We filed for Chapter 13 bankruptcy September of 2009. The plan was confirmed on January 2010 and ultimately discharged January 2015. Included in the bankruptcy was a home equity line of credit that was deemed unsecured. The creditor has been reporting late 90 days plus every month right through to the current …
The home equity line of credit (HELOC) had been around for many years before it became a hugely popular financial product in the early 2000s. When the financial crisis happened in 2008, drastically lower home valuations put a stop to the HELOC boom, and today we see far fewer being issued by lending institutions. However, …
“Dear Steve, I am writing regarding a 2nd (HELOC) on my Condo. When I lost my job in 2010 – I fell behind on my mortgage and HELOC – I went to then Countrywide and they said they would work with me but, didn’t – then when it was sold to B of A, the …
“Dear Steve, I have a first mortgage with Chase bank it is -$84,000. I also have a heloc with Chase bank it is $114,000. The heloc is interest only. The interest rate on my first mortgage is 4.5% fixed for 12 years. The heloc interest rate is 2.4%. I pay a total of $924 per …
You hear a lot of rubbish online about getting a debt consolidation loan and a lot of just flat out incorrect information. It’s time to put an end to that and help you get the facts so you can make a good educated decision. If You Don’t Want to Read All of This Post: One …
“Dear Steve, CC debt 20,000. Mortgage 39,000. Equity about 300,000. credit score under 500. marrried one income $51,000. 4 kids in college. Turned down from first bank for refinance with credit payoff. Currently spending about $700.00/month on CC payments. should we continue to try to get a loan or should we take the money out …
“Dear Steve, I have home in California, Bay Area, I filed for Chapter 7 BK, 4 1/2 years back due to business losses & Laid off work, BK 7 was Discharged and immediately i filed for Chapter 13 BK, im still active in my current plan and according to the terms mentioned in my BK …