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Cyn, I think most states have a 3-day "cooling off" period when you sign a contract, whereby if you change your mind, you can legally rescind the contract within 3 business days of signing. I'm not a lawyer, though, & if you have already talked to a financial adviser, trust your gut & do what you think will be in YOUR best interest.
Cyn, I think most states have a 3-day "cooling off" period when you sign a contract, whereby if you change your mind, you can legally rescind the contract within 3 business days of signing. I'm not a lawyer, though, & if you have already talked to a financial adviser, trust your gut & do what you think will be in YOUR best interest.
Excellent advise Marcia...........I think she knows that the advice of the advisor.....makes sense and she really doesnt have other options.
I am having serious thoughts about this loan. It isn't for a lot and yet I am putting a lot at risk. I have been able to make my payments so far on my credit cards and bills so the the loss of one day at work should not make it impossible to continue. I always pay more then required so I'll just make what is requested for now. After talking with both my kids again I know they are concerned about me losing the one thing I can call "mine". Sure credit cards cost more but just maybe for now it works for me. The bank wrote me 3 different letters saying different things and then one wanted me to get additional home insurance through them--like flood insurance and I don't even live in a flood zone. Just sounded weird. So come Monday I think I will contact the bank and just tell them to stop it all. I need more time to mull this over and to see what happens in the near future. This is to new to me and I don't want to jump into anything. I need to feel good about what I do.
Hhhmmmm...I just am just checking in one more time...and this is really none of my business, cyn...but I'm assuming this is not a personal, or signature loan, but a HELOC, & you're putting your home up as collateral. I could be wrong. But, coming from SoCal, I saw so many people lose their homes when they tapped into their equity. We were tempted ourselves, but did not, thank God. With the credit cards, the worst that can happen is, if you can't make the minimum payment, they cancel your card, your credit goes downhill, you may have to declare bankruptcy, but you don't lose your home, you have a roof over your head. Just playing devil's advocate.
Also, have you posted over in the finance & real estate forums? There is lots of advice, much of it good, over there.
Also, I try to never make a major decision when I'm really stressed...so I haven't made any lately!
Cyn.....just do what makes sense to you and gives you peace of mind. If getting the credit cards paid off and then using the money you are spending on them to pay off the home equity...gives peace of mind....then that is a good thing. If a home equity loan makes yuo feel insecure and vulnerable....then that is a bad thing.
I worry about all the vet bills that you end up putting on credit....and your animals arent getting any younger or more healthy.
The vet bills have been cut way down...just hoping for the best for my animals right now. If one gets really bad of course I will take it in and pay cash if I can. Lately I have been lucky!
I feel uncomfortable using my home and as Marcia pointed out with credit cards you may lose your credit but not your home. So far I can still make my card payments. Just a stressful time.
Tomorrow I spend Easter with my family so that will be nice. Looks likt the weather will be lovely too.
Hope everyone has a blessed day!
Not this time. My son said he has 30 hard boiled eggs for the kiddos to find and then maybe I'll make them at their house. I'm just not in the usual mood.
Don't force yourself to make eggs or to be "in the mood" for the holiday. Just let it be.
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