Answers
a customer, if an the customer already has an existing line of credit open with the same bank but it has a zero balance? The problem being my brother who had my mother's POA opened a second home quity line of credit for our mother without closing the existing line of credit, therefore leaving two liens out there of the property. Was that legal for the bank to do so?
Yes, there are no limits to how many liens can be placed on a property.
Edit: If anything it would be more of an issue for the title company than the bank. But having 2,3, or even 4 liens isn't unheard of.
www.HelpStopForeclosureChicago .com know that Credit cards have become so pervasive in our lifestyles it has become extremely difficult in some ...
Resolve to Manage Your Money Better in 2010: Ten Ways to Get ...
When you’re making your New Year’s resolutions consider the findings of a recent national survey done by the Financial Industry Regulatory (FINRA) Investor Education Foundation with input from the AICPA (American Institute of Certified Public Accountants).
Nearly half of the survey respondents reported facing difficulties in covering monthly expenses and paying bills, the majority don’t have “rainy day” funds set aside for financial emergencies and only 41 percent of parents have set aside money for their children’s college education.
If you can relate to any of those situations, chances are you need to do a better job managing your money. With the economy still uncertain, it’s a wise move for anyone to be a little more financially savvy.
...News
Record-low mortgage rates, but many can't refinanceChicago Sun-Times - Dec 26, 2009
Record-low mortgage rates, but many can't refinanceMake sure you have enough equity in your home. Be realistic about what your house is worth and ask what minimum amount of equity you'll need to qualify for and more »PR Newswire (press release) - Dec 30, 2009
List what you own - money in bank accounts and retirement plans, the value of stocks, bonds, investments and life insurance, the equity on your home and and more »BusinessWeek - Dec 29, 2009
24) ILLINOIS, the state whose credit rating was cut twice in early December, plans to sell $3.47 billion in taxable general- obligation bonds the first full and more »Indianapolis Business Journal - Dec 30, 2009
Banks extended loans in hopes lost equity will soon reappear. Call it the year of living pessimistically. Or the year of living on a shoestring budget if and more »
Reuters - Dec 30, 2009
Special Report: America's route to recoveryFrom its peak in 2005 to the second quarter of 2009, US home equity fell 37 percent, or $4.7 trillion, according to the Federal Reserve. and more »
CNNMoney.com (press release) - Dec 19, 2009
Crain's Chicago BusinessAMCORE Financial, Inc. is headquartered in Northern Illinois and has banking assets of approximately $4.0 billion with 66 locations in Illinois and Amcore Financial: Survival plan banking on new fundsall 41 news articles »
PR-USA.net (press release) - Dec 27, 2009
Home Politics RW Pressprich & Co. Donates $100000 to Food Banks NationwideRW Pressprich trades the full spectrum of credit products and selected equity securities and offers sophisticated research services to institutional clients and more »