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Can I take out a personal loan to consolidate credit cards and use the quit claim to our home (my fiancé has the mortgage) as collateral. The house is worth 148,00 and the loan is only 55K My Credit scores are in the low 700 and I have never been late on a payment. I have proof of income. Or should I use my car as collateral - but I owe 13K on it still - It is worth $30K - can I do that?
Both of our names are XXXXX XXXXX tax bill so wouldn't they already know that it has been quick claimed since the mortgage is in his name only. Or would they think because I live there that is why I am on the homeowners insurance. The house was recently appraised for 148K and the mortgage is only 55K. If it is not an FHA - would the bank still call the loan? Oh, the house is only 1/2 quit claimed to me. Would that make a difference? Also, can I use the equity in my car for the loan? It is worth $28K - I owe 12K but it is paid off in 12 months.
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