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Home equity mortgage required

Submitted by Jeff Petree on Thu, 06/28/2018 - 21:33

Hi everyone,

My colleague Diana is planning to start a new business venture. She insists me to join the project. It’s really comfortable to work with her. But, it’s difficult to raise a huge fund in such a short time. I think, the best solution is to take up a home equity mortgage.

Nowadays, the mortgage rates are being offered at an exceptionally competitive rate by various credit unions. Even a difference of one percent can make a huge difference in the life of the mortgage we take. I believe in comparison-shopping. I have done a short research and listed a few mortgage companies in North York offering home equity loans with the lowest mortgage rates. Please share your suggestions as early as possible!

First of all, taking out a home equity loan and using that money for business development is a bit risky. You won't know your business will flourish or not, so you do you want to put the home as a collateral? Remember, if you can't pay off the loan, you'll lose your home.
Have you tried any private financing option?

Submitted by Barbara Delinsky on Fri, 06/29/2018 - 04:51

Barbara Delinsky

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Home equity mortgage? How much equity do you have in your house? Have you thought about taking out a business loan?

Submitted by SC on Fri, 06/29/2018 - 03:12


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Are you thinking about taking out a home equity loan to do a business with your friend? Before doing so, be sure because you're going to risk your house because of a joint business venture.

Submitted by Mabelle Page on Thu, 07/05/2018 - 04:01

Mabelle Page

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