I own a home and want some extra money.I have about 200,000 equity on my home and my loan is for a 100,000.My credit is not the best in the world.I have 2 credit cards total of 1,700 dollars and owe a few doctor bills totaling 730 dollars.My house payments are current and I have no car loan.My salary just barely pays my bills.Maybe I can leave some money in a high interest account to acquire some money from the equity loan too and use some of the money to do a few things to house but not major remodeling just new carpet,paint landscaping etc etc.What is the best way to get some extra cash,I am a single mom and only have my one income coing in and can’t take another job because I have to take care of my other responsiblities as a mom.Please no loan companies respond. Just want to make my quaility of life a little better.Thanks anyone.
Posts Tagged ‘Get’
Best Way To Get Money Thru A Home Equity Loan?
Wednesday, May 13th, 2009Should I Get An Home Equity Loan Or Should I Save My Money And Pay With Cash?
Tuesday, May 12th, 2009I own a house that will be paid off next year.
I want to do some remodeling in my house like a new kitchen, all new travertine floors, new doors and some other things.
The total of my remodeling will be about $45,000 including all the labor and materials.
My question is: Do I get a home equity loan for 7% to8% or do I save my extra cash and pay for the remodeling in full in about 2-3 years after I pay off my house?
If I get a home equity loan for about 5 years, I will pay nearly $10,000 in interest alone. That’s a lot of money!
Any ideas?
P.S. I have no debt except my house loan. No credit cards, no cars, no school loans, no nothing!I have a credit score of 780 and I don’t like to pay interest if I don’t have to!
