Some banks do not make any sense to me... >Family member

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>>1462926

>>1462926
>If I foreclosed on it and the bank took it over I would literally be doing them a favor as they would profit.
Maybe if you knew what the fuck you were talking about, you wouldn't be laughed out of every bank branch you visit, First, you can't foreclose on your own house. Foreclosing is what the lienholder does to satisfy the debt, not what the borrow does. Second, the bank would not profit through foreclosure. Foreclosure is a tool to pay a debt, and nothing more. Foreclosure does not transfer ownership to the bank, it merely forces a sale of the property. If the property is actually worth more than the debt (as you claim) then the bank would be paid what it is owed, and nothing more. You, as owner, would get the remainder.

Maybe you should do some reading and try to understand the terminology better before your meeting next week.

>>1462963
so this is the new meme now.

What is collateral

Might be worth it for you to look into refinancing the house for a major mortgage, then just instantly paying off a huge portion of it. I've done exactly this on a few annoying refinances.

>>1463061
No need for the hostility. It's pretty obvious that he meant performing actions leading to a foreclosure.

As for the second part, so what. The bank still makes the money back. Extra value is just extra safety.

>>1463476
>No need for the hostility.
I wasn't being hostile; I was being blunt. If OP isn't lying about the house, its value, his income, and his credit score, there's no reason he wouldn't find a lender within 5 days of looking. Any mortgage broker in any city would easily line up at least 3 different refi packages under these circumstances.

I suspect that OP is going into bank branches and sounding like a retard. He doesn't know how to explain what he wants to do, and the banks think he's doing something shady, improper, or stupid. A little education would serve him well, as I recommended yesterday.

>>1463530
Fair enough.

Good point about the brokers. I don't know why anyone wouldn't go through a broker. Not like it costs anything, and you get better deals. Hell, I buy cars with brokers. One less thing I need to know fuck all about.

>>1462926
>If I foreclosed on it and the bank took it over I would literally be doing them a favor as they would profit.

lmao OP is mentally challenged

>>1463575
Fucking refinance the house to pay off your car and get as much out as the highest payment u can afford. Invest the cash in assets that pay more than your borroed rates.

Rent house like stated.

Profit.


If a bank wont give u the money keeo going to banks till they do.

Thats fucking stupid.

Especially if it is an investment property.