With a credit score of 777, could I receive a home equity loan?
I have not used the equity in my home and want to see if an equity loan would provide my the monies I need?.
What happens to the equity that is in the ones home if not utilized: ex: I took out approximately 100K in 2005, and left another 100K in equity. My question is what happened to that remaining money? Why is it so difficult to recover monies in ones home? | 11.14.15 @ 20:27
Yes, you could. There are other factors in play - how much equity you have, do you have sufficient income to qualify etc.
The answer to your other question is that equity is a fluid thing. As your home's value moves with the market, your available equity will increase or decrease with the value of the day. You may have had an extra $100k of equtiy in 2005, but that number is almost certainly different today. | 11.16.15 @ 15:40