If I can not pay a home equity line of credit with one bank but I continue to pay the 1st mortgage what action does the home equity line of credit holder take? Both loans are up to date, but I will be unable to pay the HELOC much longer. I do not live in the property in question. It is vacant and with a realtor but it is in Florida and the value is dropping almost daily due to the crisis in the real estate market in florida. Should I let the banks forclose?

We own our house fully No mortgage value approx $550k. We are thinking that we like to retire early to near the beach. Currently we found nice homes with land in that area for $175k. Is it better to get a home equity for the full cost of the Beach home plus any other small debit (approx $75k 2 cars and a timeshare) or continue to pay on the individual debits and add a Mortgage for the Beach house?
The ultimate goal would be to get settled into the 2nd home and then sell the current home pay off the balance and then put the rest in an investment with monthly dividends to use as retirement income until we reach retirement age and also maybe get a parttime job.

I got these medical bills from a recent surgery and its causing a huge financial strain on me. I make enough to live comfortably, but not enough to live comfortably and pay this incredible amount of money every month. I am just wondering, since interest rates are so low right now, is it the right time to take out a home equity loan?

I have a home equity line of credit at 9%; I see them advertised at 7.5%. Any ideas on how I might find a better rate without closing costs besides just calling around?

I own my home and don’t have a mortgage payment. Can I get a home equity loan, and then invest that money into a safe investment (such as a bond mutual fund) and pocket the difference each month, assuming that the fund’s monthly distribution is higher than the mortgage payment? Or, is there some other “scheme” I can set up that would be similar? I don’t want to use the home equity loan money to start a business or buy real estate or anything like that - too risky. I’d prefer to stick with things like mutual funds. I just got to thinking that my home is just sitting here, not really going up in value (in my area, anyway), and that money isn’t doing anything for me. Surely there has to be a safe way to let it make me a little money, right?

My girlfriends ex-husband tricked her into signing a revolving line of credit for the house they owned together when they were married. He also has her listed on the property deed as well as the deed of trust for the revolving line of credit. She recently signed paperwork to get her name removed from the property deed. What forms does she need to file in order to have her name removed from the home equity revolving line of credit?

How long after purchasing a home do you have to wait to take out a home equity loan? Do you have to re-close? Are there loan you can take out beside equity if you own a home?

When getting a home equity loan does the bank or credit union do an appraisal on your property?

Our house will be paid off next year. We have some major home improvements to do in the near future. Will borrowing costs be more if we borrow against the equity after the first mortgage is paid off, or does it matter?

My partner and I are splitting up. We own a home together. Can she take out a home equity line of credit without my signature?