Bank failures scant in state Columbus Dispatch
Banks in this country are failing at an alarming rate: 133 this year and counting.
The round announced Dec. 4 included six banks that were taken over by federal regulators; one was in Ohio. Cleveland-based AmTrust Bank was the 11th-largest in the state, with about $12 billion in deposits.
There have been some near failures, most notably Cleveland-based National City, and 14 Ohio financial institutions are under scrutiny by federal regulators. However, such failures are rare in this state.
AmTrust was only the second Ohio bank to be taken over since Jan. 1, 2008. The first was Peoples Community Bank of West Chester, shut down in July.
By comparison, 24 Georgia banks have been shut down this year; that's the most in the nation. Illinois is second, with 20 failures, followed by California with 15 and Florida with 12, according to the Federal Deposit Insurance Corp.
Ohio's banks have fared better than those in other states for several reasons.
Refinance Help. Fill this form and get help!
Home equity loan help please?
Ok, so i owe roughly 100K on my home and it appraises at around 117K.
I need to get roughly 10K, is that doable, i want to make improvements to my house. How do i go about doing this, or getting approved?
I would say my fico score is around the low six's.
what all cost would be involved with the loan? like appraisal, closing cost etc... and would that all just be deducted from the equity loan itself?
Also, what all do they factor into giving you a loan? Are equity loans easy to get?
I live in Ohio by the way.
Any information is appreciated.
You should have no problems getting an equity loan with your credit scores. Since you are only asking for 10k, the house is worth 117k so you will still be under with both loans the appraised value you should not have much trouble.
Costs involved depend on the company you choose to finance your loan. Some companies offer no out of pocket while others can range up to 1,000.
Factors in giving a loan, are house worth to money owed, your credit, debt to income ratio, etc.
Many banks will let you borrow 95 - 100% equity in your property. They are not hard to get!
Just make sure you can prove all your income.
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Home Mortgage Loan?
Does anyone know a company in Ohio that will give you a home mortgage loan for an investment property? We have excellent credit and already own our home and do not want to take out a home equity loan. The problem we are having is we only need the loan for $18000 and can not find anyone who will loan that little bit for a mortgage
You can get an equity line of credit for the investment home. There should be no probem, since you have such heavy equity in the property. There is no three day receission period for investment property, spo the funds can be released on date of settlement. (I have done loans like this, so I know it works.)
My home is paid for and I have an equity loan.?
I live in Ohio. Can I refinance this into a regular mortgage or some other kind of loan with lower interest rate? I am at a variable rate right now. Loan amt is 25000. And I still owe prob (without looking) at least 23000. Any financial wizards out there?
If your credit is good and your house is worth more than the loan, it shouldn't be a problem. Talk to the bank where you have the equity line to see if they will convert it. If not, you can take out a new loan from any bank and use it to pay off the equity line. It shouldn't be difficult it all. Good luck!
Update: Your equity line may have a penalty if you close it early, so find out and factor that into your decision. You can always pay the balance without closing it.
I would consider refinancing the your mortgage to a fixed rate - you can add the amount you want to borrow, variable rates scare me just now with great inflation coming our way.
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