Resolved Question: Foreclosure on an Investment Home in California?

I currently paying off a $23K loan used for school tuition and expenses. The is part of a home equity loan of my aunt's as she helped me pay for school. It has a variable interest rate which started at 4.5% when we got it, and now its reached 8.00%. I am now working and living on my own in NY and I want to assume the payments over a fixed term with fixed payments. I have a pretty good credit score. I am debating whether I should just get a fixed rate loan on my own. Thing is, I'm not a homeowner and I am just a recent grad. I don't know how far that will get me. I wanted to know if any of you may give me options?

Resolved Question: Should we keep shopping for a better interest rate on a Home Equity Loan?

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.

Resolved Question: Foreclosure on an Investment Home in California?

I bought an investment home over 2 years ago before the bubble burst but the neg am loan is eating up the equity. It is located in Calif as is my primary residence.
The lender doesn't want to modify the loan terms to make it more reasonable, within 12 months we'll owe more than its market value.
If we decided to let it go to the lender either as a foreclosure or short sale, does the lender have recourse against my primary home, which is NOT part of the note or deed. We asked the lender to work with us, they are simply declining and it appears that they'd rather be in the rental business instead of the mortgage business. So in Calif can they go after your primary home which is not connected to the investment home in any way. By the way, they are different lenders.

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