No Equity Home Loans or No Equity HELOCs are second mortgage loans that are offered to consumers, who have no equity in their homes. Having no equity in your home means that your mortgage loan is larger than your home’s value. For example, if your home is worth $85,000 and your mortgage loan is $90,000 then you have a negative equity in the amount of $5,000. You can get up to a 125% LTV No Equity Loan to take $16,250 out of your home.
I can tell you that they do. My daughter worked in banking for many years before starting a family and deciding that she would like to have more control over her working hours in order to be home to take care of her children. She already had a notary license from her work at the bank so she decided to become a signing agent from her home.
Your task does not end there. In fact, the hardest part would be finding potential buyers or investors. You can check out real estate investment websites or you can also ask referrals from colleagues and friends. Present your list of notes and allow them to make a pick. After all, the buyer will be the one to pay for the note. You will act as mediator, so the buyer and seller can agree on a certain price. The terms should be established and after the transaction, you can now collect your fees.
Set some goals for yourself. Day one could be devoted to making a huge pile of flyers. Be sure they include not only what services you are offering, but some guarantee that you are trustworthy, such as a statement that you will provide references. Make sure your name and phone number stand out. Some people design their flyers with little tabs at the bottom that can be torn off with the name and phone number of your new business. Anything you can do to make it easier for a prospective client to remember you will be beneficial.
To make selling a home even tougher the seller assisted down payment programs were outlawed recently. Down payments for FHA insured view here usapaydayloans.info will increase from 2.85% to 3.5%. Every tenth of one percent increase in the required down payment blocks tens of thousands from buying a home.
Maintain a long healthy credit history. Keep alive your oldest credit card and be sure to pay all bills in time. Never keep bills pending over a 30 day period. If in a crunch at least pay the minimum charges due.
If you cannot get an unsecured card, you can always get a secured card from a bank. But you will need to make a deposit to the bank, which they will hold for several months to a year; the deposit amount will be your actual credit limit.