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
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Is Taking A Home Equity Loan To Buy New Vehicle And Pay Bills The Smart Way To Go?
Monday, May 25th, 2009Is It A Refinance Or Home Equity Loan?
Monday, May 25th, 2009I bought a house 6 months ago before I sold my condo. I borrowed the money from my brother for the new home until the condo sold. I have a written contract and have been paying interest. He is starting to get nervous, so I would like to take out a mortgage for the home to pay him back. Would this be a refinance or a home equity loan? Also, when the condo sells, I expect to still have a mortgage of about $40,000. Assuming I take out a new mortgage now on the house, when I pay 3/4ths of the loan amount off in one lump sum, will my monthly payments decrease or will the monthly payment amount stay the same, but the loan be paid off more quickly?
