Financing in Chicago>Question Details

dlraudioinc, Home Owner in Chicago, IL

Equity loan for back taxes

Asked by dlraudioinc, Chicago, IL Mon Jun 10, 2013

I own my property free and clear but I was recently discharged fro a chapter 13 bk, my bank stated that I would not qualify for a equity loan any advice on what to do I don't want to lose my home

Help the community by answering this question:

Answers

8
Go down to the Tax Assessor's office and ask them for a time-payment plan for the taxes:
You'll find them very accomodating,
They won't grind you about qualifying,
The interest rate will be equally bad,
They will give your Credit Report good feedback.
0 votes Thank Flag Link Fri Jun 28, 2013
I would recommend doing a cashout refinance to pay off the taxes. Equity loans have teriible rates and terms usually. You need to be at least one year from the discharge date on your chapter 13 with on time payments afterward. If you meet this requirement feel free to give me a call and I can help you out most likely. 614-458-1903
0 votes Thank Flag Link Fri Jun 28, 2013
call Jim Schultz attorney at law for your options at 773 680 7426
0 votes Thank Flag Link Sun Jun 23, 2013
Use the friends and family network - place the lien against the home -and pay them back. Might be a good idea to use a lawyer to draw up the docs.
0 votes Thank Flag Link Tue Jun 11, 2013
Speak to a few different lenders for the loan, but if it doesnt work out, it is best to seek legal advice.
Web Reference: http://AmericorpRe.com
0 votes Thank Flag Link Tue Jun 11, 2013
when was the discharge date? FHA is possible. what is your credit profile like?
0 votes Thank Flag Link Tue Jun 11, 2013
You may want to ask a relative for some help/loan. Otherwise credit card advances. Otherwise, sell personal property.
If over 65, maybe a reverse mortgage would work for you.
0 votes Thank Flag Link Tue Jun 11, 2013
You need to talk to an attorney good luck
0 votes Thank Flag Link Tue Jun 11, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer