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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Has anyone ever done a Home Equity Loan?
Any pros and /or cons that you can share?
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Posted 6/13/06 3:16 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Has anyone ever done a Home Equity Loan?
Pros: Interest is tax deductible
Cons: Interest rates are really high right now 
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| Posted 6/13/06 3:18 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Has anyone ever done a Home Equity Loan?
I sell them  If you have any questions let me know.
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| Posted 6/13/06 3:24 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Has anyone ever done a Home Equity Loan?
I'm going back and forth right now deciding to take one out of not. The interest rates are high and I don't want to be so leveraged that I am not liquid enough for an emergency. I worry about the RE market and if my home will retain it's equity and the gain.
I'm thinking about taking one for 20-25K..the higher the amt the lower the interest rate, but I don't want more than I need.
Then again..the house is a never ending repair project!
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| Posted 6/13/06 3:31 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Has anyone ever done a Home Equity Loan?
I work for Wamu and we have an awesome product. Its a Line of credit so you don't pay clossing costs BUT.... You can FIX a portion of it.
So if you want 20,000.00 You can take out 40,000.00 (in order to use the line and loan) and fix 20,000.00 of it. If the rates go UP you are FIXED but if the rates go DOWN then you can pay 50.00 to UNFIX it to the NEW lower rate.
Seriously if anyone has a question let me know!
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| Posted 6/13/06 3:37 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Has anyone ever done a Home Equity Loan?
Yes....Kristin is great to work with!
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| Posted 6/13/06 3:39 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Has anyone ever done a Home Equity Loan?
Posted by luvsun27
Yes....Kristin is great to work with!
aww thanks Kim  
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| Posted 6/13/06 3:41 PM |
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luvsun27
Check out my cool glasses
Member since 5/05 8135 total posts
Name:
Kim
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Re: Has anyone ever done a Home Equity Loan?
Posted by june262004
Posted by luvsun27
Yes....Kristin is great to work with!
aww thanks Kim
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| Posted 6/13/06 3:47 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Has anyone ever done a Home Equity Loan?
Posted by june262004
Posted by luvsun27
Yes....Kristin is great to work with!
aww thanks Kim
She was so very helpful when I had questions. I would definitely recommend her!
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| Posted 6/13/06 4:28 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Has anyone ever done a Home Equity Loan?
Posted by shamrock12472
Posted by june262004
Posted by luvsun27
Yes....Kristin is great to work with!
aww thanks Kim
She was so very helpful when I had questions. I would definitely recommend her!
Thanks Babe I hope everything worked out with you
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| Posted 6/13/06 5:02 PM |
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