icon
Home icon

Home

Jobs icon

Jobs

Reviews icon

Reviews

Network icon

Network

Resources icon

Resources

|For Employers icon

For Employers

logo
about
careers
FAQs
privacy policyterms & conditionsfor employers
112k
20k
icon
© 2022 Fairygodboss. All rights reserved.
My ProfileMy MessagesMy NetworkMy SettingsGroupsEventsMy PostsLog Out
Mystery Woman
Tell us more for better jobs, advice
and connections
YOUR GROUPS
Discover and join groups with like-minded women who share your interests, profession, and lifestyle.
COMPANIES YOU FOLLOW
Get alerted when there are new employee reviews.
YOUR JOB ALERTS
Get notified when new jobs are posted.
Your post is published!
Sweet Caroline
star-svg
4.25k
06/21/20 at 2:34PM UTC
in
Money

HELOC

We have never had equity in our home (bought in 2004, sold in 2016 for a loss, bought another house). Our current house has about 25% equity and we are considering taping that in order to renovate the 40 year old kitchen and replace the carpet. It was suggested to us that we get a home equity line of credit so we can pay for part of the renovation in cash (we have always paid cash but it limits when/how much we can do) Our current cabinets are beyond repair, we have tried. We don’t really know where to start with the HELOC, do we reach out to a bank or a mortgage company?

Share

Join the conversation...
Laura Ann Klein
star-svg
402
06/22/20 at 2:02AM UTC
I spoke to a broker and my bank, my scores are also above 700 with average income to debt ratio. I hope you have better luck than I did!
Laura Ann Klein
star-svg
402
06/21/20 at 3:11PM UTC
I tried to pull money out in March. These loans are limited due to the recession. My lender told: In 2008 many people did this then defaulted on the loan due to joblessness and used the equity to live on. The banks are gun shy. But my income isn’t stellar so that may have informed my brokers reticence to move forward.
Sweet Caroline
star-svg
4.25k
06/22/20 at 1:33AM UTC
did you speak with a bank or a mortgage company? We have scores above 700 and our income to debt ratio is low.

You're invited.

See what women are sharing on Fairygodboss.
What's new today
wand-button
Personalize your jobs
Get recommendations for recent and relevant jobs.
Employer Reviews
Rock & Roll Hall of Fame
3.0
Shiny objects aren't always the best. You'll find dozens of...
Seagate Technology
4.4
Such a great place to work, they offer great benefits and...
Recent Content
I'm a Career Coach — Here are 10 Ways to Cope with Interview Nerves
I Pivoted From a High School Teacher to a Director of Innovation and Architecture: Here’s How!
Only 63% of Women Report Feeling Mentally Healthy at Work — Here’s How Benefits Can Change That
icon
© 2022 Fairygodboss. All rights reserved.
  • about
  • careers
  • FAQs
  • privacy policy
  • terms & conditions
112k
20k