Questions tagged [heloc]
a type of home equity loan where the borrower is given a line of credit. They do not have to start out borrowing the full amount.
5
questions with no upvoted or accepted answers
2
votes
0
answers
595
views
Escrow sent money to wrong account
I signed up for a HELOC, but the terms for me being approved for the HELOC required me to use the full balance to pay down part of my mortgage. The bank worked with an escrow company to ensure that ...
- 131
1
vote
0
answers
165
views
Single late mortgage payment is hurting me a lot
I'm from the US and I've recently applied for HELOC refinancing at a much lower rate (-2.00%), but underwriter has decided to deny the application due to a single late mortgage payment made in Jan ...
- 111
1
vote
0
answers
182
views
Now that I'm 59 1/2, should I pay off my HELOC by withdrawing from my IRA?
Maybe someone here can help me figure this out.
I turned 59 1/2, and I have an IRA with about $500K. My wife has recently semi-retired and has started taking her social security, but I am still ...
- 111
1
vote
0
answers
108
views
Should I refinance my 15 year mortgage to include my HELOC balance?
I have a HELOC with my local bank. The draw period is 10 years and the term is 15 years. I still have balance that equals 95% of the line of credit. I only have about 3 years left on the draw period ...
- 11
1
vote
0
answers
264
views
Buying a home-Make as large a downpayment as possible, or keep cash to invest
I'm trying to decide whether to put a full 20% down on a new home (primary residence), which would eat up most of my cash from sale of current home, or do something like 10% down, 80% conventional (...
- 111