2006-10-24 05:40:42 · 3 answers · asked by Anonymous in Home & Garden ➔ Other - Home & Garden
If you borrow a small amount of money then i believe you can. But be very careful as you are talking about dealing with in my opinion the biggest crooks, scammers, liers. The first few conversations with these people they make it sound like they are doing you a major favor, how wonderful every thing is going, etc. About 30 to 60 days later you will regret what you have done because by that time near the closing you will get hit with higher interest for one and every thing else will be the opposite of of what you were told at the beginning. Find another alternative or roll the dice on lies.
2006-10-24 06:26:04 · answer #1 · answered by ? 2 · 0⤊ 0⤋
No, if you take an equity loan on your house you must at least make the minimum payments. Check with your mortgage holder. Depending on your equity there are reverse equity loans where the "bank" pays you so much equity a month. They can do this until your equity is down to zero, although I don't advise that.
2006-10-24 13:02:45 · answer #2 · answered by college kid 6 · 0⤊ 0⤋
I know that you could remortgage the house with an interest only loan. I did this but I only intend to stay in it for a few years then I'm out. The payments, after the interest only period, can get pretty high.
2006-10-24 13:06:53 · answer #3 · answered by Pooch 2 · 0⤊ 0⤋