What kind of financial emergency are you really in?
- A single event that can be taken care of with a single, low-volume, short-term loan?
- Or is this the kind of repeat offense you just keep finding your merry way into (or not so merry)?
If you have a problem, and keep having that same problem over time, maybe you need more than a one time fix. Do you have a house? Whats it doing just sitting there! Get yourself an equity loan and rock out with your equity out!
Get funky with an olde-school equity loan in Denver
All an equity loan means is that you’re borrowing against your house – rather than putting your credit on the line, you’re also putting up your abode. Thats some confidence, but thats also some groovy amount of money you can access with that equity loan, a lot groovier than check or payday advances:
- Usually a payday loan will only be for a couple hundred bucks, at most two thousand and thats not enough to put in your eye.
- Line of credit from your bank can get you a little more scrilla, but he interest man! That interest is a killer, and a long-term obligation that will keep costing your boatloads.
- But an equity loan – ahhhh yes, therein lies the good life. Long term repayments (10 years or more), huge lump sums ($30 k – BOOYAH!), and low interest rates bought with your home (its not going anywhere, unless you live in Florida, then things might get dicey).
You have options in this financial emergency, and home equity loans give people the chance to take care of business once and for all.
Risks? What risks?
Some of us are a little wary of pulling out an equity loan to take care of some last minute doodad or other between paychecks. Thats valid – but what really matters here? A long life of careful planning, keen decisions, and vanilla pudding? Or are you the type who’ll go for the swirl, apply for an equity loan and thrown your financial weight around like a big-money stacka!