Home Equity Loans – second mortgage

Question by The Amazing Teddy B.: What local Florida banks give the most generous home equity loans?
and/or which have the best rates?

Best answer:

Answer by Dale H
Try U.S. Bank. Of the lenders we use, they seem to have the best LTV and rates.Check with some of your S&L’s or FSB’s as Home Equity lending is sort of their thing.Good luck.

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Question by xblaine: Limit to Number of Home Equity Loans?
I have been purchasing, fixing up, and renting homes in the past year. Since the market is so slow, I am able to quickly build up equity. What I do is take out Home equity loans on the houses and then roll them stright back into the purchase of the next house. I’m worried though that I may hit some limit to the number of loans I have outstanding. It would seem that my credit rating would increase since I’m also paying off credit card loans but am not sure about the bank balking at so much debt. What do you ridicule think?

Best answer:

Answer by Dave M
I do mortages for a living do certainly you start off very small and cognizing what your doing… your gonna need the buy the house at 70 of the market vaule so that you can resell it for a profit. Home equity loans can get you into trouble. Trust me i see it everyday… personally I would stay away from individual family rentals right now. I watned to make sure I answer your oppugn most lenders let you only have two liens on house three at very very maxium but it is very hard to quilty for three liens on home.

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Question by vacavilleRN: What will happen to the mortgage and home equity loans if the mortgagee left the country for good?
I have a friend who is selfsame desperate because of all the debts, shortsale/foreclosure of his holding, mounting credit card bills, etc, want to just leave the country for good to start anew. What would be the possible consequences of this? Will it clear all his debts, if he comes back to the US after 3 years would he be in trouble?

Best answer:


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Question by Clinton W: What happens with home equity loans or lines of credit if you file for bankruptcy?
Would these debts be “forgiven” also and if so, does this affect your house which was used to achieve the loan?

Best answer:

Answer by S P
With the new laws in bankruptcy, any loan, or debt you owe has to be included in any bankruptcy filing. I’m assuming from your ? that’s what you are asking. Bankruptcy also depends on median income, debts, and passing a means test for a chapter 7…..if you don’t qualify….chapter 13….not much info in your ?……Good Luck!

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Question by Clinton W: What happens with Home equity loans and lines of credit if you file bankruptcy?
Would these debts be “forgiven” also and if so, does this affect your house which was used to achieve the loan?

Best answer:

Answer by POS
lets all forgive and love, like jesus does for us

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Question by stephanie s: Are home equity loans tax deductible?
My husband and I took out a home equity loan last year. Is the interest tax deductible?

Best answer:

Answer by ghouly05
Short answer is Yes. Below are FAQs from the IRS website addressing that issue.Is interest on a home equity line of credit deductible as a second mortgage?You may deduct home equity debt engrossed, as an itemized deduction, if you are legally liable to pay the interest, pay the interest in the tax year, secure the debt with your home, and do not exceed certain limitations. For more information, refer to Publication 936, Home Mortgage Interest Deduction; and Tax Topic 505, Interest Expense.I took out a home equity loan to pay off personal debts. Is this interest deductible? Where do I enter this amount on my tax return?A loan taken out for reasons other than to buy, make, or substantially improve your home, such as to pay off personal debts may qualify as home equity debt. The absorbed would be deducted on Form 1040, Schedule A (PDF), Itemized Deductions. The amount you can deduct as interest on home equity debt is subject to certain limitations. For more information, refer to Publication 936, Home Mortgage Interest Deduction; and Tax Topic 505, Interest Expense.

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TexasLending.com to Discuss Float Down Option for Home Loans on KLIF AM Radio

Kevin Miller, CEO TexasLending.com

Dallas, TX (PRWEB) August 26, 2011

Kevin Miller of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas reverse mortgages, will discuss TexasLending.com’s float down option for refinances, purchases, and home equity loans this week on his weekend radio show. If a client locks in their loan with Texaslending.com and rates drop between application and closing, their rate can be floated down. In Dallas/Fort Worth the show can be heard Saturday on AM 570 KLIF from 1:00 p.m. to 2:00 p.m.

“This relieves clients that are hoping to get the best rate possible but may be on the fence due to uncertainties about the housing market. It has been a great benefit to the consumer during this recent refinance phase and we expect it to benefit all as the home loan rat remain volatile” commented Kevin Miller.

TexasLending.com has been on the air for over 10 years to educate the consumer about home loans in Texas. Listen in each week as the CEO of TexasLending.com, Kevin Miller, and his co-hosts, discuss the behind the scenes information about the mortgage industry that will help you in done an informed decision about your home loan now and in the future.

About TexasLending.com:
TexasLending.com provides expert service in the field of residential mortgages. Headquartered in Dallas, TexasLending.com specializes in loans throughout the states of Texas, Oklahoma, Florida, Missouri and Colorado. TexasLending.com is a mortgage Banker with virtually unlimited options available for conventional, FHA, VA, Texas home equity loans, home purchase loans, refinance loans, and reverse mortgages. To find out more about Texas Lending’s home loan and mortgage programs, visit http://www.TexasLending.com.

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