Mortgage Equity Lenders

Debra Said:

What if i don"t pay my Equity loan payment?Can they take my house?I still have a mortgage with another lender.?

We Answered:

You're in a pickle, for sure. If you borrowed against your home equity, that lender certainly can take your house - and then the holder of your primary mortgage can sue you because you no longer own the collateral on THAT loan - the house! You'd best retain an attorney right away - or you'll not only be out on the street, but up that famous creek without no paddle! You cannot afford NOT to get a lawyer, kiddo!

Mabel Said:

Are mortgage lenders more lenient to defaulted payments if you tell them your home is up for sale?

We Answered:

Not necessarily. They are more likely to work with you when they can't sell the homes they have already foreclosed on. They really want the MONEY, not the house. ANYTHING that increases the chance of getting paid won't hurt.

Scott Said:

do you know a mortgage lender that will lend 115% equity?

We Answered:

I doubt that anyone will go that far. Try Regional Mortgages.
http://www.regionalmortgages.com

Discuss It!