Take out equity loan using our current mortgage

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Lilly
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Take out equity loan using our current mortgage

Post by Lilly » Mon Feb 23, 2015 12:23 pm

Hello,
I have been doing a lot of thinking and was wondering if there would be a way to refinance for one amount giving me enough to pay off current mortgage and have extra to pay out to have room additions to my home. Would there be a way to get a loan for around $100,000 or so? My current payoff is around $69,000 for my home. The additional $30,000 or so would be used to add on to my house. Would there be a way for that to happen? Or what is the process?

To add on to my home would be anywhere from $20,000 to $28,000 depending on what I want done. With the current interest rate of 4.25% on 100,0000 at 30 year fixed, I could possibly afford that even when taxes and insurance are factored in too. My wife has cancer and the medical debt is rather large and I am doing the best that I can. My wife needs a better home due to her current health and having cancer. I need to be able to add on to my existing home to give me the space so that I can better care for my wife and give my kids more space too. Any direction you could give me would be greatly appreciated. I reside in the state of Indiana.

Greene
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Re: Take out equity loan using our current mortgage

Post by Greene » Mon Nov 14, 2016 11:24 pm

My house is in foreclosure. I will most likely be separating from my husband so I need a 2 bedroom apartment for me and my youngest son. Am I able to receive housing assistance for this or take out a loan using the little equity I have? Must I pick out a place I want to live and then give the paperwork to the landlord to fill out? Is there anything else involved and how long does it take until you hear something back?
I don't know how much rent I can afford, probably not more than $450/500 a month with help from the government. I am still making a car payment of $252/month until at least December 2016 and am currently working P/T. I am looking for F/T work but am not able to find anything at this time. Can you take out a mortgage loan for equity even though I am in foreclosure? Please let me know how to handle the situation. Thank you,

Poil
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Re: Take out equity loan using our current mortgage

Post by Poil » Tue Dec 17, 2019 9:05 pm

Yes I’m Robert Glover. I lived in my home for 20 years and now need an equity loan. I've never had no financial problems until this year. I got a little behind because of health issues and some personal issues that ended up with health issues and I got behind on my mortgage a couple months ago. My bank thought I was behind. I showed them receipts that I paid on those months at free because they didn't do the records right and then so they went ahead with foreclosure okay. I don't have very much time.
I tried all these programs you know that but I was too late. I need help. If you can help me save my mortgage from a home equity loan. Please to refinance to get an equity loan. I'm behind on my mortgage like 3 months and so basically I need help to refinance it to consolidate all my debt into one.
I still have my job. I just need help. I mean I thought they would be more options out there. I thought my bank would work with me on these things but you know I'm nobody told me nothing when I needed to know it. I need help in a loan. I need to consolidate my debt into one payment like refinance or I need a home equity line of credit to get my bills caught up. You know that I'll pay on it because it would also consolidate my bills. That would that's what I would use it for us to pay off debt. Please contact me or this email address. I need immediate urgent help. It is urgent that I get help quickly or else I'm going to lose my home please.

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