Posted on: 12th Feb, 2012 03:35 pm
I am trying to get a debt consolidation loan using a mobile home that sits on a lake front lot. The property is paid off and in excellent condition. I have about $45,000-$50,000 in credit card debt that I want to payoff. The property was purchased 8 years ago for $80,000. Many upgrades and refurbishments make it a spactacular property probably worth around $100,000. Can u help with any programs?
welcome rbauer,
well, if you have equity in your property, then you can refinance the existing mortgage and take out a cash out loan in order to pay off your credit card bills. this community does not offer loans. you can contact your local lenders and apply for a loan. this community has a large number of lenders. you can seek a no obligation free mortgage quote from them and check out if they can help you with a loan.
well, if you have equity in your property, then you can refinance the existing mortgage and take out a cash out loan in order to pay off your credit card bills. this community does not offer loans. you can contact your local lenders and apply for a loan. this community has a large number of lenders. you can seek a no obligation free mortgage quote from them and check out if they can help you with a loan.
It is important to note that you may be subject to the same costs you paid to get your original mortgage, including settlement costs, discount points and other fees. A prepayment penalty may apply for paying off the original mortgage early.
The amount you save will vary depending upon factors such as interest rates, refinancing costs and tax consequences. Borrowers may have the option to refinance from an adjustable rate mortgage with a high interest rate subject to increases to a lower fixed-rate mortgage.
:idea:
The amount you save will vary depending upon factors such as interest rates, refinancing costs and tax consequences. Borrowers may have the option to refinance from an adjustable rate mortgage with a high interest rate subject to increases to a lower fixed-rate mortgage.
:idea:
