dumb question if you have a mortgage and a heloc, but they are with different lenders, and you stop paying both of them, how do the separate lenders get your property? Do they just do some kind of calculation determining a percentage of equity and they split in a way?
Interesting. So do they chat about this when the borrower is trying to obtain the second mortage/HELOC and come to an agreement then?
Yes, the mortgage probably had to consent to HELOC. The agreement is probably that the mortgage has priority on getting paid off.
motherfuckassfuck having a great 800+ credit score and seeing 9.875% as my option for getting some money is fucked fucking almost 10% on this horseshit. I just need some money and I'll pay it off fast and these fucks
why? taking a loan from your 401k is not the same as taking a withdrawal. you can size the loan however you like and pay it back quickly if that's what you're looking to do. you'll get hit with probably a 3% loan fee and then a very reasonable interest rate. aside from not having that money invested during the loan period, there's very little downside.
I think he’s talking about lending against it not withdrawing from it. It’ll be a better rate than a second mortgage with a HELOC. You might also want to see if the holder of your mortgage will do a HELOC, might be a better rate since they’d have first and second position
Get a zero APR credit card for as much limit as you can get approved for and then check HELOC rate vs borrowing against 401k. Can also look at securities loan against any stock you have as another alternative..
I thought all sodas tasted weird when I ordered them on planes and I never had ginger ale so ordered it and enjoyed it and now it is my plane soda
I asked if they had chocolate milk last flight I took and was smiled at and told no politely like I was a child Probably deserved worse