Resolved Question: is anyone familiar with the Aussie equity home loan system and it's pro's and con's?

Hi, I am very interested in becoming a Property Developer but I have no equity or assets to finance this nor my day job is able to finance it neither. I believe that I have a viable idea (do not wish to disclose my ideas as I had too many local people with money profiting and becoming wealthy off my idea's) that will be a bit different from normal property development which will make me a tidy profit. I am a well educated man (thus why many people with money had profited off my ideas listening into my conversations in the local pub) so I am very due diligent but unfortunately there are no jobs locally suited to my qualifications nor any jobs within 100 miles where I live to go to. I can't even afford to relocate. So therefore going into Property Development part-time will given some capital to finance my relocation to a better job and better way of life. What finance options are there to do this? I am interested in a short term loan (say 2 months) which is interest only and then when I sell the property pay off the loan and the interest rolled-up and also give me some profit. Help! dream a little dream! Can't you see that the poor are getting poorer and the rich are getting richer? It's just a rich man world!

Resolved Question: How 2 solve for potential amount of credit available for home equity loan?

Here is the problem: Ramon owns a home that was appraised for $132,600. The balance remaining on his existing mortgage is $43,260. Ramon's credit union is willing to loan an amount up to 70% of the appraised value of a home. Based on this information, what is the maximum potential amount of credit that's available to Ramon for a home equity loan?

Resolved Question: Feasible to combine 1st mortgage ( 30 year ) with Equity line into a 15 year fixed or less?

I have a 1st mortgage of $125K. I have an equity line ran up to $50K. First is on a fixed 6.75% 30 year. Equity line is on a variable rate can't recall what it is at the moment. We want to combine the two loans into one 15 year loan. Is this feasible or reasonable to do? I saw at bankrate.com that one lender was giving 15 year fixed at 4.5%. Can you get a 10 year fixed? Or even a 5 year fixed? I "might" consider the 10 but didn't find any rate quotes on a 10 year fixed and not sure if the rate is much better than the 15 year fixed. Can someone tell me the best route to go with this? I'm not too knowledgeable about refinancing and am trying to learn what I should look out for yada, yada, yada. All help greatly appreciated!! thanks, Ken