What Happens With Home Equity Loans And Lines Of Credit After Your House Is Foreclosed On?

Home equity loans or lines of credit, are basically second mortgages that give you a line of credit based upon equity you carry in your home. After foreclosure, the equity in your property disappears as does your ability to make new purchases using your line of credit. Furthermore, you're still responsible to repay any amount you previously charged using your equity loan or line of credit.  


How is a Credit Score For a Small Business Established?

Typically three types of information regarding your business in considered:
1) Credit obligation information from your suppliers and lenders
2) Legal filings from local, county and state courts
3)Company background information from independent sources, including state filing offices, public records, credit card companies, collection agencies, corporate…

How Does AFS Decide Whether to Finance a Business?

We take time to understand where your business is going and what lessons you have learned. We focus more on the present and future than on the past. We look for creative ways to lessen factors that other lenders might see as risk. One way we do this is by referring the business owner with a performance coach.
Even if we can’t approve your loan request, we will refer you…

What types of funding do entrepreneurs and small business use to finance their ventures?

Financing falls into two categories: debt and equity. In addition, when a small business obtains a government procurement contract, it can play a similar role as traditional financing, providing the spark and fuel that are needed for the firm to grow.  
Advantages to equity financing:
It's less risky than a loan because you don't have to pay…

What share of small businesses use financing?

The answer to this question depends on whom you ask. According to the Kauffman Firm Survey, one-third of young firms do not use capital injections. Instead they rely on owner investment or nonbank sources of funds. A Census Bureau dataset finds that over half of existing firms do not need expansion financing. This reflects the fact that many businesses are not growth businesses; they reach an optimal…

How are women-owned ventures financed?

Women are more likely than males to start businesses without seeking financing. Women-owned businesses (just like their male counterparts) largely depend on personal finances; they are more likely to use credit cards to fund their businesses. And women are almost half as likely as male-owned businesses to obtain business loans from banks. This puts women-owned

Can I get a personal loan while unemployed?

Borrowers can get a personal loan while unemployed, but it highly depends on the lender’s discretion. When lenders decide if a borrower is a suitable applicant, the likelihood of repayment is paramount. Lenders scrutinize a borrower’s income, and a job is part of that stable income history.
Ron Suber, head of global institutional sales for 

How do I reduce my business loan payments if my business is struggling?

There are several ways that business loan borrowers can reduce their payments if their business is struggling. Businesses have been intensely competing in the ongoing recovery, making business loan repayment a sometimes difficult feat.
Borrowers should try to stretch out amortization if they are having trouble with the business loans they borrowed thus exteding the payment…

Can I get a business loan if I am still in college?

Yes, you can get a commercial loan if you are still in college!  However, you will need to put some work into it since there are a few obstacles that young borrowers—like college students—specifically face.
“College students face the triple hurdle of insufficient credit history, low collateral, and if they have student loans, high current debt load. This makes them a…

Can I defer a payday loan?

It is usually possible to defer a payday loan. Unfortunately, though, not all lenders allow their borrowers to delay payments on their short-term loans. In order to defer debt, payday loan borrowers should read their agreement. Different companies have different policies. While most allow some form of deferment, some completely omit an option for customers that want to delay a payment.

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