Can you get a home equity loan while in a debt management program?
Written By: admin on May 22, 2009
One Comment
I just entered a debt management program to get control over my credit card debt. I have done this seperate from my husband. Only my credit is affected. Just after I entered into the program, my husband started showing interest in a home equity loan to consolidate our debt (his credit card and vehicles) and do home improvements. In our marriage I am responsible for my own debts, but I am wondering if being in the DMP will affect the chances of us obtaining the Home eq. Loan. Serious educated answers will be very much appreciated.
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Tags: credit card debt, debt management program, debts, dmp, eq, home eq loan, Home Equity, home equity loan, home improvements, marriage, seperateTags: credit card debt, debt management program, debts, dmp, eq, home eq loan, home equity loan, home improvements, marriage, seperate
he can open equity line of credit only in his name and this way your credit report will not affect his change to obtain the loan or you have to get this loan quick- before your debt consolidation program will show on your report. most lenders treat debt consolidation program like bankruptcy chapter 13, so it is mean- they don't like see this very much.