home equity loan?
Date: Mon, 05/28/2007 - 16:09
See my reply in this thread. You don't need to keep your home as
See my reply in this thread. You don't need to keep your home as collateral with the dmp company while consolidating your debts.
It sounds risky when you attach your property as collateral for paying the debts. The present situation is not better and your property comes under risk in case there's a default in the payment plan set with the creditor.
I'm pretty sure if two people own the house, then two people wou
I'm pretty sure if two people own the house, then two people would have to sign on a loan using it as collateral.
I don't do mortgages, but many times someone wants to put up a car as collateral and there's someone else on the title. When two people are listed as on the title, both people equally own it - so one person can't just go and put it up as collateral. Anytime this happens, I either have to get both people to sign the contract, or the other person has to release all interest in the vehicle so that they can't complain if it gets reposessed.
