A Home Equity Loan Is A Loan That Allows Home Owners To Borrow Against The Equity In Their Homes. At Home-Equity-Loans-4-U.com, We Provide You With Information, Data, Resources, And Tips You Need To Make An Informed Decision About Home Equity Loans. Uncover Hundreds Of Articles, Tips, And Strategies Dealing With How To Find The Best Home Equity Loans, Bad Credit Mortgages, Mortgage Refinance, And How To Refinance Your Second Mortgage. As
you explore this site, you'll discover...
|
GOTCHA! Avoid These Common Home Equity Loan Mistakes!
|
|
How To Qualify For An Equity Loan If You Have Bad Credit
|
|
How Choosing The Wrong Loan Program Can Wipe You Out
|
|
3 Things Your Lender Will NEVER Tell You (But We Will)
|
|
Featuring Everything
You Must Know About Home Equity Loans, Bad Credit Mortgages,
Mortgage Refinance, And How To Refinance Your Second Mortgage.
|
|
 |
|
|
 |
Guaranteed Bad Credit Financing
|
Receive a loan or credit card even with bankruptcy!
|
|
|
| |
Access Loan
|
$15,000 Cash Loan - Even With Credit Problems.
|
|
|
| |
Everything You Know Is Wrong!
|
About Paying Off Your Debts that is! Our strategy will have you debt free in 3 to 5 years. 97% Success Rate! |
|
|
| |
Home Equity Loan – Beware of the lingering lien!
Author: Charles Essmeier
A problem that often arises when people try to refinance their home is the discovery of a pre-existing lien from a previous loan that was not removed by the lending company. The cost of removing a lien and returning the title to the homeowner, a process known as reconveyance, is usually included in fees associated with a home equity loan. When the loan is paid off, the lender is generally responsible for removing the lien, so that public records show the property to be unencumbered.
There are various reasons for why the lien isn’t always removed – oversight on the part of the lender, especially during heavy periods of refinancing, is often the problem. Occasionally, the problem can arise when a lender is sold to another company or when that lender goes out of business. No matter what the cause, a lien that hasn’t been removed can come back to haunt a homeowner.
If a homeowner is in the process of refinancing a home and discovers an old lien that hasn’t been removed, the entire refinancing process can be held up for weeks. This can be critical if the owner is trying to lock in an interest rate prior to closing. The problem can also arise when a homeowner is trying to take out another home equity loan, perhaps to facilitate debt consolidation or home improvements.
Here are a few things you can do to avoid this problem:
Get a copy of your credit report. If there are any errors, particularly errors showing an open line of credit or a home equity loan that has been paid off, contact your lender.
Keep your paperwork from all real estate loans, even if you have already paid them off. Then you will have them at hand should you need to demonstrate that you have fulfilled your obligations.
If the lien shows up on public records or a credit report, but the original lender says that you have paid it, have them send you a copy of their documentation regarding your reconveyance.
As with most issues that come up when financing or refinancing a home, this one can be resolved by remaining diligent and keeping proper paperwork. As always, it’s a good idea to check your credit report regularly, particularly if you plan on taking out a loan in the near future.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation information and HomeEquityHelp.net, a site devoted to information on home equity loans.
Article Keywords:
'Home Equity Loans'
|
 |
Recently, an interesting
email came across my desk. I'll paste it below.
Check it out. ...
|
|
Dear Homeowner,
Did you know it's possible to build a minimum of $40,000 in home equity,
and pay your mortgage off in 10 years or less without making biweekly
mortgage payments?
Fortunately, for you as a homeowner this is entirely possible.
Let me explain how:
After 4 years of research, I’ve developed a simple mortgage reduction
program that will quickly build your home equity and pay your mortgage
off faster than any other mortgage reduction strategy available…without
changing your current mortgage and without the use of a biweekly mortgage
plan.
You're probably thinking it sounds too good to be true…And
I completely understand your skepticism. But please allow me to further
explain my credentials and show you exactly how your mortgage can be
reduced through Mortgage Cycling...
|
|
|
|
|
Continue
Reading... 
