When filing bankruptcy, if I do not have negative equity on my home will I get to keep my house?
Even if you decide to keep your house, your mortgage company could cancel your mortgage contract if you file bankruptcy.
Answered
by Tekisha C.
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Top Questions Asked on ChaCha.com for Home Equity
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Do you still have to pay back home equity loans if your house goes into foreclosure?
You are still liable for a home equity loan even after a fore...
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Is it true that Home equity loan proceeds are generally restricted as to purpose?
Rates for home equity loans depend on the amount of the loan,...
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How long do you have to have a home before you get the home equity loan refinancing credit?
Sorry, there is no such thing as a home equity loan refinanci...
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Are there any banks that do 100% loan to value home equity lines of credit?
Yes, and a 100% LTV home equity loan is in fact a junior lien...
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Who invented the home equity loan?
A home equity loan or line of credit allows you to borrow mon...
Top Questions Asked on ChaCha Mobile for Home Equity
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Home equity is the difference between how much the home is wo...
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What is a home equity line of credit?
It is a loan on the value(or equity) that you owe on your hou...
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What are home equity loan requirements?
In order to successfully apply for a home equity loan, you mu...
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Definition: Alternative term for home equity: Amount left aft...
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How do you know the equity in your home?
You can go online and type your information into a home equit...
About Home Equity
Home equity is the financial value of a home, minus the amount that is owed for the mortgage. If the mortgage is entirely paid off, then the homeowner's home equity equals the entire market value of the home. If money is still owed on the mortgage, home equity is equal to the market value of the home minus the amount the homeowner still owes on their mortgage.
About Mortgage
A mortgage is a loan that is secured by a property/house and is paid in installments over a set period of time. For buying homes, mortgage loans are used almost always around the world, only in rare cases are cash or other forms of credit used for payment. The word mortgage comes from a Law French term meaning ''dead pledge.'' This means the pledge ends when the obligation is fulfilled, or the property is taken through foreclosure.
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