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ÿþ<h3>Questions To Ponder About A Home Equity Loan</h3> <p> What exactly is a home equity loan? Equity is the value of your home minus the amount you still owe on it and it helps to determine the fairness of the worthiness of the loan. Anytime a lender offers a loan, they expect to receive some sort of collateral as security against the loan. The collateral must be fair as in it must be equal to the loan's worth. This is done so the lender assumes less risk in extending the loan. If, for whatever reason, you are not able to make your loan payments then the lender can seize your home, and sell it to get his money back. </p><p> That is why it is so important when taking out a home equity loan that you make sure you will be able to easily make your monthly payments. If something unforeseen should occur and you miss payments then your home could go into foreclosure and repossession. You could face bankruptcy and have your credit ruined with court judgments, liens, or worse. </p><p> The first thing you should do if figure out the value of your home. Find out exactly how much you still owe on it and then determine your equity. Now, how much money do you intend to borrow with your home equity loan? Can you afford the increase in monthly payments? What is the purpose of the loan? Is it vitally important? Can you get the money in another, less risky way? You should ask yourself the above questions at the very least so that you can minimize your risk of loss over taking out a home equity loan. </p><p> Remember that you could lose your home in the event that you are unable to repay the equity loan. It is always a good idea to shop around for various types of loans and loans from various lenders so you can choose the best terms and interest rates for you. Lenders are all too happy and eager to offer you a home equity loan because they know they can seize your home if you fail to make your payments. So don't fall for their over hyped sales pitches. Instead, take your time and think things through so that you make the right choice for your finances. Remember to read the fine print and make sure you fully understand the terms before signing any loan papers, especially for a home equity loan. </p><p> Ask yourself the basic questions so that you understand the value of your home and the amount of your new monthly payments. Do you want to take out a home equity loan because you are in financial trouble and want to consolidate your bills? Be especially careful if this is the case. If you do not also change your poor financial habits, you will soon find yourself back in the same financial tight spot but without the equity you once had. In other words, you will be worse off and in real risk of losing your home. </p>


 

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Wells Fargo agrees to modify home-equity loans - Finance and Commerce


Wells Fargo agrees to modify home-equity loans
Finance and Commerce
Wells Fargo & Co., the nation's top mortgage lender, agreed to modify home-equity loans through the Obama administration's ...
Wells Fargo Signs Home Affordable Second-Lien Modification Program Agreement ...MarketWatch (press release)
Wells Fargo Joins HAMP for Second LiensHousing Wire
Wells Fargo signs up for loan modification programThe Associated Press
DSNews.com
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Obama Overstates Loan Modifications, Republicans Say - BusinessWeek


ABC News

Obama Overstates Loan Modifications, Republicans Say
BusinessWeek
Wells Fargo & Co., the nation's top mortgage lender, today became the second bank to agree to also modify home-equity loans as part of the program. ...
How the Obama loan modification program is helping millions of people each day.BatchBuzz (satire)
Reverse Mortgage Loan—Get Rid Of Your Mortgage Payment, Pay Off Your HomeRed, White, and Blue Press (blog)
Home Loans and Hope for HomeownersCredit Loan (blog)
MarketWatch -BatchBuzz (satire)
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Mortgage Rates Lower: 30 Year Mortgage Rates at 4.91%, 15 year Mortgage Rates ... - MonitorBankRates.com


DSNews.com

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Federal Home Loan Bank of San Francisco sues over mortgage securities - LoanSafe


Federal Home Loan Bank of San Francisco sues over mortgage securities
LoanSafe
The 12 Federal Home Loan Banks in the US took charges of $436 Million on private mortgage securities and home-equity investments in the fourth quarter and ...
'About That $19 Billion ...'Courthouse News Service

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Consolidate Debt: 50% Eliminated or More - BigNews.biz (press release)


BigNews.biz (press release)

Consolidate Debt: 50% Eliminated or More
BigNews.biz (press release)
Home equity loans, and even bankruptcy were often the programs they were forced to choose from. Hardly anything to crow about. ...
Credit Card Debt Elimination: 50% of Debt EliminatedBigNews.biz (press release)

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