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Question by Tynnetta Medley: My deceased father has a reverse mortgage – the amount owed is less than the value of the property?
I would like to take out a mortgage to repay reverse mortgage. Do I have to take out mortgage for value property or just what’s owed on the reverse mortgage? I’m 1 of 3 heirs and we are to divide the assets equally. But the only asset is the house. So my question is do I need to take out a loan for value of house so heir can get their 3rd?

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Question by joy$ : Would home equity loan rates possibly go down some more in the next few weeks?

Best answer:

Answer by engineer50
No one can say.

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Despite all the economic and unemployment problems in the country, many people have been managing their finances pretty well. Those people may not be in need of desperate refinance loan to consolidate debt or cash out equity. These people would only refinance their home mortgage loan to save money and maybe pay their mortgages earlier. 

They may be just looking for a best time to lock in those low interest rates mortgage offers for a long time to come. Their credit score would be pretty good as well. Looking at the number of refinance applications, many seem to think that this is their chance. Record low interest rates bring out homeowners to take advantage of the very good opportunity. The rates have come down enough for refinance to be beneficial for many. This is one of those ideal times for homeowners with good equity in their home and good credit score to refinance. 

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Home equity loans are the most popular type of loans in US in recent years that allow the home owners to pull substantial equity out of their homes by using a home equity loan. In other words, Home equity loans are that loan that ensures the home owners are allowed to borrow money by pledging the house or other valuable asset as collateral that helps them to easily fulfill their needs without any hassle. However, the amount of these Home equity loans are can be easily used for consolidating consumer debt or covering a large expense such as a wedding, college expenses, or home repairs to your existing home.

Talk about the interest rate of these Home equity loans, are low as compare to other credit facility. That’s why these loans are also known as Home equity loan lowest rate. Moreover, this includes the great possibility of getting a relatively large amount of loan, the tax deductible payments and the easier to become qualified for these loans. The eligibilities of these Home equity loan rates include:

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