Recent content by electricjeff

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    Refinancing a Heloc

    So I'm looking at my paperwork and actually my balloon payments begin in 2017. Not 2015. So I will be ok for a while. My rate that I got on my paperwork says 7.5%. I am trying to figure out what my balloon payment would be. I have 20 years of balloon payment. I'm not sure if I have 7.5...
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    Refinancing a Heloc

    So I have a Chase mortgage with a 135k balance and a Chase Heloc with a 140k balance. My condo is worth about 280k at the moment. So my question is this. My payments are set to balloon in 2015. I will not be able to afford. Am I able to refinance the Heloc? If so would I have to refinance...
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    New Illinois Walkers - I want your stories!

    Thank You Tom. I am current on both at the time being.
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    New Illinois Walkers - I want your stories!

    I currently live in Chicago and looking to move out of state. I own a condo. I could probably sell it for 250,000. However I owe 130,000 on my first and 140,000 on my Heloc and both are by Chase. My Heloc payments are about 2 1/2 years away from sky rocketing. I am putting some money away...
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    New Illinois Walkers - I want your stories!

    What are my options? I currently live in Chicago and looking to move out of state. I own a condo. I could probably sell it for 250,000. However I owe 130,000 on my first and 140,000 on my Heloc and both are by Chase. My Heloc payments are about 2 1/2 years away from sky rocketing. I am...
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    Selling parking spot while holding HELOC

    I own a condo in Chicago as well as a parking spot. I currently owe 140,000 on my HELOC and 130,000 on my mortgage. I understand that when you sell your property, the HELOC must be paid off. My question is this. Can I sell my parking spot without being forced to pay off my HELOC since it is...
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    My situation

    Actually I never tried to get a modification on the second. The second is a HELOC which I don't think you can modify.
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    My situation

    My condo in Chicago is worth about 250k. I have a 140k mortgage balance and a 140k HELOC both with Chase. My finances are not good at the moment. I don't know if I should pay the first and not pay the HELOC? How long will it take for the bank to forclose on me if I don't pay the HELOC? Also, I...
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    HELOC Question

    I just don't think they will modify my first being that I take home 4k a month after taxes.
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    HELOC Question

    My first is 5.75. I'm not late but I have been in recent months. My property is valued at 287k. I have had the same job for the past 5 years. My mortgage is not underwater and both loans are about half of the total owed which is making it hard for me. I gotta do something about my HELOC...
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    FHA Refinace Program For Underwater Mortgages

    Thanks for the post Moe. Do you think I would qualify for this? My goal is to combine my first and second loans. My home was appraised at 287k and I owe 136k on my first and 140k on my second. Is this something new? From what you posted it looks like I might qualify. I tried doing a fha...
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    HELOC Question

    I have a mortgage with a balance of 136k and a Heloc balance of 140k. Both loans are with Chase. I need help modifying my Heloc because It is killing me. I am paying 1% of the balance a month. Would it be smart to refi my first mortgage with another company so I can try to get my Heloc modified...
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    Question about changing HELOC to Home equity loan

    Bankruptcy isn't gonna be possible. I want to keep my condo so Chapter 13 is my only choice. MY first mortgage balance is 136k and my condo was recently appraised at 287k. So I don't think this will be possible. My HELOC does have an option to change to a fixed rate. So that was my...
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    Question about changing HELOC to Home equity loan

    I am looking to do a modification but was thinking of another way to help myself out. My condo was appraised by Chase at 278,000 and my first mortgage is 136,000 and my HELOC is 140,000. The best thing for me would be to combine both into one but Chase will not allow me to because of the...
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    Alternative to Modification

    I am looking to do a modification but was thinking of another way to help myself out. My condo was appraised by Chase at 278,000 and my first mortgage is 136,000 and my HELOC is 140,000. The best thing for me would be to combine both into one but Chase will not allow me to because of the...