I’m in an argument with my neighbor. He has a house worth approx 300,000. and he is worried because he is on a fixed income and has a home equity loan of 45,000. He’s worried about the state of the economy and afraid he might lose his home. He is making his payments just fine right now but is worried about the future. He’s a senior and unable to go back to work.

My parents took out a home equity loan on their home 7 months ago and didn’t quite understand what they were doing. They are on a fixed income and now have a payment they can not afford. Their home was appraised at 108,000 and they took out 35,000. They owned their home with no payments before this. They have fallen behind on payments and need to refinance the loan. but with todays market I’m afraid that won’t be possible. any ideas?

Where can I get a home equity loan of ,000.00 dollars. On a home thats worth 0,000.00 with no mortgage thats fully paid for.. Credit is not so good and on fixed income. Please dont tell me a bank.. Been there tried that.

Thanks,

David

My grandmother has aquired debt in total of ,000.This is mainly due to using credit cards and such to purchase fuel for her home, new oil tank, new furnace and several other necessities over the years.She is currently living on a fixed income of 1200. per month.Right now, creditors are harassing her left and right and she is struggling to pay the bills.I help, but I am not rich.There is only so much I can do. She is overwhelmed and the taxes are due on the house in January. I went to LendingTree.Com. and came up with a Home Equity Loan from Champion Mortgage.How safe is this?Is this the right thing for her?Any other options? They charged her to assess her home. Are their closing costs that must be paid before she receives money? Even if she doesn’t get approved? I would hate to see her lose her home. Please help!