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Reply to "I need about $20k to get us through a layoff-home equity loan?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you don't qualify for any kind of loan (though if you use your house as collateral, maybe that works, then you pray you get a new job by the end of the year?) what about renting your house out since it's in such a good neighborhood. You will probably have to rent it for a year, but if you get 4K for the house and pay 1K for a rental, you'll get out of the hole pretty quickly, and have some runway to get a new job, and get your life back on track. And you'll still own the house with the good mortgage rate. [/quote] On what planet do you envision rentals suitable for families are available for $1000/month?[/quote] They said where they live is cheap, renting out a room only yields $500. They should be able to get one bedroom for $1000. [/quote]
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