ReddittorMan
ReddittorMan OP t1_jaef0eo wrote
Reply to comment by GardenGood2Grow in How would you take equity from a home to pay for a major repair? by ReddittorMan
Thanks that’s what I thought originally.
ReddittorMan OP t1_jaed2us wrote
Seems like it would be unwise to just wait until it really fails and then make a claim? I haven’t noticed any leaks but the attic is super cramped and filled with ducts/insulation so it would be hard to catch a leak early.
ReddittorMan OP t1_jaeciv1 wrote
Reply to comment by GardenGood2Grow in How would you take equity from a home to pay for a major repair? by ReddittorMan
It wasn’t damaged by any specific event. It just is really old, possibly the same roof from late 50’s
ReddittorMan OP t1_jaeawet wrote
Reply to comment by thisismyusername51 in How would you take equity from a home to pay for a major repair? by ReddittorMan
Wow that sounds too good to be true! I’ll certainly give it a try though!
ReddittorMan OP t1_jaeo9de wrote
Reply to comment by Kind_Tangerine2190 in How would you take equity from a home to pay for a major repair? by ReddittorMan
Sounds like the HELOC is the way to go. You say I would be limited to the amount of principal payments made over the last 3 years? I had a higher than normal down payment plus almost 20% appreciation (according to Zillow I know that probably way exaggerated) so there the loan balance is now probably less than half of the market value of the home