Use HELOC on old home to pay for new one (The Charlotte Observer)

Story date: 2008-05-23 03:06:30
Added on: 2008-05-24 04:00:21

Q. We've decided to downsize and are building a new home. We put down a deposit of just over 10 percent and have a loan commitment for another 25 percent of the cost of the home. We have significant equity in our current home and plan to use that for the rest of the purchase price. However, because the market is slow in our area, we have come to realize we may not sell our residence before we ...


Read more...

Related Stories:

• Gas Prices and 2008 Leadership Survey: 71 Percent Expect $4 Gas This ...

  Forbes - More than half of Americans cited "rising gasoline and home heating oil prices" (51 percent), followed by the recession/economic slowdown...
  2008-01-30 10:29:00

• UPDATE 2-Banesto 2007 net profit up 26 pct, calm on future

  Reuters - Banesto said mortgage signings had fallen about 20 percent since the summer, while default rates on home loans had risen...
  2008-01-11 03:06:00

• Corinthian, Home Depot, Northstar: U.S. Equity Movers Final

  Bloomberg - Countrywide Financial Corp. (CFC US), the largest U.S. mortgage lender, increased 7.2 percent to $5.32. Homebuilders also rebounded. KB Home...
  2008-01-22 02:49:00

• C.A.R. Reports Sales Decrease 28.5 Percent, Median Home Price Falls 26.2 Percent in February (Centre Daily Times)

  Home sales decreased 28.5 percent in February in California compared with the same period a year ago, while the median price of...
  2008-03-24 11:39:02

• Home sales fall for the second quarter; what goes on here? (The Sauk Prairie Eagle)

  SAUK PRAIRIE AREA - The bad news is, over the second quarter home sales fell 10.8 percent nationally and 7.2 percent in...
  2007-08-22 03:58:24

• Get right side up by modifying home loan (Everett Herald)

  Question: I read your column last Sunday where you said home values will probably fall another 5 percent to 10 percent next...
  2008-11-16 02:04:53

• Countrywide loses $1.2B, sees turnaround

  Houston Chronicle - Some 4.41 percent of Countrywide's conventional first mortgage loans were delinquent as of Sept. 30, up from 2.57 percent...
  2007-10-26 07:17:00

• Pain across region (Lowell Sun)

  Percentage of homeowners who owe more on their mortgage than their home is worth. n Dracut -- 26.6 percent. n Lowell --...
  2008-11-20 06:04:50