North Carolina Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
talk to me about Home Equity Loans
i am considering one to fund my business. I am reading up on them but does anyone have any experience? what are the negatives? thanks!!
Re: talk to me about Home Equity Loans
I admit I do not know much about home equity loans. However I have heard it advised to only use home equity loans for improvements on the house, so my initial thought is it is a bad idea. I think this is how a lot of people got themselves in trouble. They took money out of their houses for all kinds of things and ended up underwater on their home or unable to pay the money back. They now risk foreclosure or are unable to sell. If the business fails do you have another way to pay back the loan or will you be at risk for losing your house?
The first question is do you even have enough equity in the home to qualify for a home equity loan. Didn't you just move recently? If you recently bought I doubt you would even qualify. I also would not take equity out of anything you planned to sell in the near future.
Have you looked into a small business loan? Really I would talk to a financial planner. You probably want to do this anyway if you are serious about setting up a business. You also might try asking on the money matters board.
This article thinks funding your small business with equity from your home is a bad idea. This article is a bit older, but it talks about people who uses their homes to fund their business.