I have 24 years left on 30 year mortgage. I am thinking about a home equity loan at a favorable rate, rather than roll in to refinance consolidation. If rates are favorable later this year i may like to refinance 1st mortgage at 15 years. Will home equity loan affect my refinancing even if i am not looking for any cash out.
Posts Tagged ‘Out’
If I Take Out A Home Equity Loan Now Will This Loan Affect Me If I Want To Refinance My Mortgage.?
Sunday, May 17th, 2009My Parents Are Taking Out A Home Equity Loan To Lend Me Money To Start A Business, Does Anyone Get Taxed?
Friday, May 8th, 2009I’m looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out a loan do they have to pay any taxes? Do I have to pay taxes on this money?
I don’t have any assets so I wouldn’t be able to get a loan for the amounts of money I posted.
