My parents recently signed the deed of their house over to me with a Life Estate clause added to it so that they will still have a place to live. The intentions were for me to get a home equity loan in order to make some much needed renovations to the house, including a handicapped suite for the both of them to make them more comfortable. However, everyone with whom I have spoken has told me that with the life estate clause on the deed, it is impossible for me to secure a home equity or other type of loan, even if my parents cosign since they are the beneficiaries of the life estate. What options do I have so that I can get a loan for the renovations?

Should I let the house go into foreclosure or should I do a bankruptcy? I don’t want to owe the IRS. Please help me!

Which company did you use? What were the fees? What options did they offer? And most importantly did their services actually help?

Thank you for your personal testimonies!

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.

I have very good credit, and my debt to income ratio is about 22%. What are my options for financing a new addition to my home if I only have about 25% equity in the home?
Is there such a thing as a construction loan for new additions?

I would like to purchase my first home within the next 4 years. I would like to know what sort of things I need to be aware of now, in order to buy a home and secure a loan with little stress. I just graduated from college and am looking for employment (right now I serve in a restaurant while I search for the right job). I have started saving and I also started an IRA. My credit is ok, had some problems about 8 years ago but none now. What are my best options for saving during this period, savings account, CD’s, bonds, market, etc?????? Is there anything else I should be doing as far as credit? I have 2 cards with very low limits (both under $500) that I pay off every month.

Any suggestions would help.