(Closed) Tell me about HOME RENOVATION LOANS!

posted 7 years ago in Home
Post # 3
1701 posts
Bumble bee
  • Wedding: August 2010

Sorry I don’t have any experience with these. We got a higher-interest rate loan (bad idea).  Then when the renos were done we had our house re-appraised and because the things we did really raised the value of our house a lot, we then re-negotiated our mortgage for a larger amount, and paid off the high-interest loans. So that’s how we did it, but it is not the smartest way.  We just got lucky and it all worked out and all happened within about 6 months, so we didn’t take a major hit on the interest. 

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