My boss asked me to give him information regarding loans. He wants to get a $5,000 to $10,000 loan. He owns 3 houses (duplexes). He uses 2 1/2 (lives in one) as rental property. However, right now he is in a cash crunch as they are vacant and he wants to fix them up before renting. he is old school – born in 39 and he has asked me to get him some information regarding this. he wants to borrow just around $5,000 – enough to live on and fix up the houses just a bit – he is almost 70 – and he is very tight on money – being born in depression – very concerned about not borrowing too much…..he is out of town and i am trying to get this information for him.

i dont think he wants home equity loan……can he do this secured loan thing? he said he saw where you could use your car as collateral but his car is a 2000 Truck – i don’t think it would work for a $5,000 loan. he was just dumbfounded that owning 3 houses he would have trouble getting a loan. his credit score is 563. he said his bank doesnt even do personal loans. thanks for any help.

I do not have a house to get a home equity loan. I don’t know WHAT to do! What can I do? Who can I call to prevent me and my baby from walking and making my poor credit even worse? PLEASE HELP!

We have applied with one lender. Our home is paid for, our credit is excellent our debts are low and income is very adequate for the amount that we would like to borrow. The lender came back with 10.7 interest. Couldn’t believe it we qualified for 3.9 interest on our depreciating truck purchase that we bought this time last year. How is this interest rate figured? I thought being a secured loan and also great credit there would be no problem of getting around 6.5 Could someone explain this? We do intend to shop further. Thanks in advance.

I’m just wondering if we should do a home improvement loan, refinance our mortgage, do a home equity loan, etc.
We are looking at doing siding, some windows, soffits and fascia, etc.

I am planning on a home equity loan but through a relative. They will declare the interest I pay on their taxes. I want to claim the interest I pay on MY taxes, so I need to secure the loan against my property. I have some vague idea of what I need to do but need specifics. Obviously, I would like to spend as little as possible to secure the loan. I live in Maryland. Has anyone done this before? Thanks.

I just purchased a home that needs lots of work for $75K, I was planning on getting a home equity loan to pay for the improvements, but it appraised for $79k. My understanding is that now I would only qualify for a $4K equity loan. What are my other options for securing a loan to pay for the needed home improvements. Details please.

If I got a secured loan against my home and I sell me home, do I have to pay my unsecured loan off when I sell my home? Or can I continue to have my loan and pay it off every month for the term of the loan?
No, I am not talking about a home equity loan. A secured loan against my home- do I pack that back when I sell my home or not?