UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next
Author: winerush Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308579  
Subject: Charge or Loan Date: 9/6/2000 6:30 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
My wife and I bought a house about 6 months ago, our first one. We are in our early 30's. We want to re-floor the entire place with new carpet and tile, which will run about $7000.

We don't have the cash, but we really need to have it done. Our mortgage is made up of 2 loans, a 1st and a 2nd... so I don't think we can refinance, plus we don't have much equity (maybe 15k).

Should we apply for a home improvement loan or put it on credit cards? We have outstanding credit and are masters at transferring balances on cards for 2.9% rates, etc. The problem with charging it is we already have substantial CC dept.

What is our best option?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Back to the Future Buffalo Wild Wings
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement