Financial Analysis: Pros and Cons of Refinancing and Using Home Equity for Garage Construction
Wednesday, 12 June 2024, 20:00
![https://store.livarava.com/08a7c2d7-2951-11ef-ab75-0d95d4a28fb2.png](https://store.livarava.com/08a7c2d7-2951-11ef-ab75-0d95d4a28fb2.png)
Financial Analysis: Refinancing Mortgage & Home Equity
Sandi, only having $900, considers using home equity for a garage.
Current Situation
The house, valued at $190,000 with a $136,000 mortgage, lacks a garage.
Decision Dilemma
- Pros: Instant funds for garage construction.
- Cons: Risk of increased debt burden at 70.
Do you want to advertise here? Contact us