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HELOC Borrowers Commonly Use That Money for Home Renovations. But Here’s Why a Home Equity Loan May Be Better
Impression resource: Getty Images With a HELOC, you might be actually taking on more possibility. Essential points Borrowing versus your dwelling is a superior way to fund a renovation undertaking. A property fairness personal loan may well be a a lot less risky prospect than a HELOC, even even though HELOCs can be far more adaptable. Home equity loans have a fixed desire fee, while HELOC curiosity prices are variable. A lot of individuals settle in the system of shopping for homes. They conclude up with a kitchen area which is outdated, a bathroom that’s noticed greater days, or a basement that appears to be like like a scene straight…
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Feds accuse Springfield restaurateur of using PPP loan for renovations
The owner of multiple Springfield restaurants has been accused by the government of fraudulently using Paycheck Protection Program money for home improvement projects. John Michael Felts − whose restaurants include Bourbon & Beale, Hot Cluckers and Taco Habitat − is accused in a lawsuit filed last week by the federal government of using the loan money, obtained under more than a dozen different identities and companies, to purchase and improve other properties. Federal officials have not filed criminal charges but are asking for forfeiture of four properties in Greene County. Records show that Felts applied for around a dozen PPP loans using several different companies, most of which “did not…
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6 reasons why senior homeowners should consider a personal loan for home improvements
A home improvement personal loan can be a good way for seniors to finance home repair or remodeling projects at a low, fixed interest rate. (Shutterstock) Aging houses need regular maintenance and improvement — to keep you safe, to make your home more comfortable to live in, and to preserve the value of your investment. If you don’t like the idea of risking your home equity in your senior years, a home improvement loan can be a good option for financing your project. Here’s how a home improvement loan works and why you might choose one to finance home renovations or repairs. What’s a home improvement loan and how does…
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Goldman Sachs is betting that you’ll want a $10,000 loan from the investment bank
David Zalik, founder and CEO of GreenSky. Chris Hamilton | GreenSky Goldman Sachs, the 153-year old investment bank, is now officially in the home improvement loan business as it continues a push into the finances of ordinary Americans. The bank expects to add one million customers a year to its budding Marcus retail division through the acquisition of GreenSky, announced in September at a $2.2 billion price tag, Goldman executives said in their first interview after the deal closed Tuesday. GreenSky is an Atlanta-based buy-now, pay-later fintech firm that focuses on construction loans with an average $10,000 size. “It a great acquisition engine because we expect to bring a million…
