I bought a house about 6 years ago, poured my life savings into it and it has appreciated in market value quite a bit. Every time we manage to save a nest-egg we need to replace the A/C or something else goes wrong.
Previous owner was a DIY guy who didn't know what he was doing. Long story short, there's mold in our master bathroom. To remove it and re-do the bathroom is going to cost somewhere between $20-40k. We have a fraction of that in savings right now and some CC debt.
I called about a home equity loan, but got quoted 8.5% APR, which seems so damn high.
I thought about refinancing my mortgage but I'm locked in at 3.5%, no way do I want to refinance that.
Do I have any other options? Do we spread it out over credit cards and just pay it down very slowly? Is there a lifeline I'm not seeing?
Thanks so much.
Submitted September 05, 2018 at 04:51PM by tenaciousdeev https://ift.tt/2MPpKQN
