want to buy new vehicle but still owe on present one plus have other loans. My house is paid for would it be a wise choce to do a home equity loan rather than take an nother car loan. I know nothen about homae equity loans
Posts Tagged ‘Equity’
Is Taking A Home Equity Loan To Buy New Vehicle And Pay Bills The Smart Way To Go?
Monday, May 25th, 2009Will A Home Equity Loan Increase My Property Tax?
Saturday, May 23rd, 2009I am considering applying for a home equity loan. In order to get the money I need, my house would need to be assessed at a higher value than it currently is because I have very little equity in the house. However, I have made many major capital improvements, so this won’t be a problem. If the bank’s assessor assesses the property at a higher value, will my house be subject to higher property taxes? I live in NY, so the property taxes are the highest in the country, and this would be a major problem.
I have considered and researched other alternatives to a home equity loan, so I just need to find the answer to this question. I can’t seem to find it on the Internet, and I have asked two mortgage people…and they don’t even know.
