More Deciding whether to remodel Before remodeling, consider the finances. Don't plan on spending over 25 percent of its current selling price. More Family loans Lending and borrowing money from family and friends can tax the relationship while the loan is being repaid. Before lending money, think long and hard about whether you can afford it. Short-term loans might be arranged informally, but larger loans need more formal structure.
Frivolous spending can trip up homeowners.
As a nation, we've been lulled by a strong economy. You can be prepared for an economic slowdown. Mortgage and home equity borrowers can reduce their luxury spending, sell stock investments and scale down in order to minimize their debt ratio. More Predatory lending Predatory lenders in the home equity industry try to strip away your home equity for their own profit, flip your original loan through refinancing and tacking on excessive fees, and packing on charges for unnecessary services. More Financing plastic surgery You can finance plastic surgery by cash, credit card, personal or home equity loan.