What About The Risk?
My husband has been thinking about taking out one of those secured debt consolidation mortgages in order to fix some things around the house. He wants to finish the basement, and clean the siding, and get a fence around the yard. I am worried that something will happen and we won’t be able to pay the loan, and don’t want to risk the house. Since I don’t work, if he lost his job we wouldn’t be able to make the payments on the mortgage or the loan, and would be in real trouble. I would rather make the improvements gradually as we can afford them.