Fuck (bills)
May. 24th, 2005 06:31 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
litchAwww crap!
So my bank did a apprasal on my house and came up with a value of 143k. The value dan gave us that we used to determine nancy's equity was 150k.
The pay off for the existing loan + nancy's check is 112, they can only give me a home equity loan for 80% of the appraised value minus the mortgage. Since 80% of 143 is 114 I only qualify for little more than a couple thousand for the home equity and it's not worth their time to make a home equity loan for that small a number.
So somehow I need to come up with my share of the money I need to pay off our credit cards and close out the account to meet the demands of the decree.
So my bank did a apprasal on my house and came up with a value of 143k. The value dan gave us that we used to determine nancy's equity was 150k.
The pay off for the existing loan + nancy's check is 112, they can only give me a home equity loan for 80% of the appraised value minus the mortgage. Since 80% of 143 is 114 I only qualify for little more than a couple thousand for the home equity and it's not worth their time to make a home equity loan for that small a number.
So somehow I need to come up with my share of the money I need to pay off our credit cards and close out the account to meet the demands of the decree.
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no subject
Date: 2005-05-25 01:26 am (UTC)If so, it's not worth it for them for another reason - you'll get a lower interest rate, and thus pay them less money.
Go to another bank. They'll be happy to take your money.
no subject
Date: 2005-05-25 04:00 am (UTC)the refi itself is approved, it's just the kicker on top to pay off credit cards
no subject
Date: 2005-05-26 08:50 am (UTC)Also, if you go to another institution, be sure to clean up the yard before they send someone out to do an appraisal. First impressions mean a lot.
I may be in Austin in June, if you'd like some help (though, I really give more moral support than actual labor).
no subject
Date: 2005-05-26 07:38 pm (UTC)I am refinance the remaining note on the house and paying out nancy's equity
I was additionally attempting to take a home equity loan out on the remaining equity to pay off my share of our credit cards
unfortunantly the remaining equity was less than I had been led to believe
between what nancy is supposed to pay me and what I have in the bank I should be pretty close to pay off and I think the decree grants me 3 months to pay off the credit cards, which I should be able to do by scrimping a bit, I was hoping to have more loose cash but I'll take getting out of debt