[quote=biggoldbear]Well, the general idea would be to get a loan that is not a “mortgage” [/quote]
Then the loan wouldn’t be a home improvement loan secured by the house.
This reminds me of the off balance sheet debts of Enron.
I love all the thinking out of the box that has been going on in the last 20 years. It’s just a way of hiding the debt that was accumulating. The risk was always there, but it was not captured by the traditional analysis tools/ratios.
Two years ago, I had a client who had the very same idea and he was going to do alot of the work himself. The addition never got completed and he lost the house going down in flames.
Two years ago, I had a client who had the very same idea and he was going to do alot of the work himself. The addition never got completed and he lost the house going down in flames.
Two years ago, I had a client who had the very same idea and he was going to do alot of the work himself. The addition never got completed and he lost the house going down in flames.
Two years ago, I had a client who had the very same idea and he was going to do alot of the work himself. The addition never got completed and he lost the house going down in flames.
Two years ago, I had a client who had the very same idea and he was going to do alot of the work himself. The addition never got completed and he lost the house going down in flames.
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