Can I borrow money using my home as collateral?: by - TopicsExpress



          

Can I borrow money using my home as collateral?: by eyewashdesign: A. Golden Question by Don: Can I borrow money using my home as collateral? I recently paid off the mortage on my home so that I now have 100% equity in my home. I have finished a large section of my basement but I now want to add a bathroom and a kitchenette to it to turn it into a studio. I am unemployed at this time and my bank would not give me a home equity loan because of not having a job. My income consists of $ 250 a week in unemployment and $ 475 a month for a room that I rent out. If I rent out a studio that will generate more income. Where can I get a loan without a job using my home as collateral? Best answer: Answer by Caveat EmptorWhat you are asking for IS a mortgage (or HELOC). Without income, you wont get it. Know better? Leave your own answer in the comments!
Posted on: Thu, 13 Mar 2014 03:36:49 +0000

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