Is it wise to get major home improvements (vinyl siding and doors) done by taking a lien out on my house?

Posted by admin
imablkqueen2 asked:


I am considering doing a much needed repair on my home. It costs 23,000. The company will finance us using affordable monthly payments. What is the danger in this. Will vinyl siding boost my property value. I have the original aluminum siding on my house now and it looks horrible.

Cecil
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • The Benefits of Vinyl Siding
  • Should One Choose Vinyl or Non-Vinyl Replacement Windows?
  • I need to replace a patio door, the house has vinyl siding, what are the steps involved to do it myself?
  • What color should I paint my siding and shutters?
  • We are siding the back and sides of our tudor style house should we change the color ?
  • How to Fix Siding that is Rotting on Your Home : How to Treat Damaged Siding on a Home
  • Where are some goog places online where I can order some vinyl siding, facia, and sofits?

    • This entry was posted on Monday, August 4th, 2008 at 9:37 am and is filed under siding. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

    « Is it necessary to use house wrap with vinyl siding?
    What is best way to remove deck stain from vinyl siding? »

    3 Responses to “Is it wise to get major home improvements (vinyl siding and doors) done by taking a lien out on my house?”

    1. Elo Fudpucker Says:
      August 7th, 2008 at 3:26 am

      $23,000 for vinal siding, must be a BIG HOUSE….Go to a reputable Bank for a loan, Don’t ever mortgage your home with a Siding company, You Will end up in trouble……..Nuf Said

    2. dvelez Says:
      August 8th, 2008 at 2:06 pm

      Personally, I would not take out a loan with a lien on my house. If for some reason you could not make the payments you might run the risk of having your house taken away from you. Even though you think the payments are affordable now, there might come a time when you can’t make them.

    3. bbj1776 Says:
      August 11th, 2008 at 11:12 am

      Be careful, better to take a home improvement loan.
      Contractors sometime will try to take your house if you miss one payment and interest rate may be lot higher.
      If you can save some money and do little at a time would be better.
      Also made sure to get 3 or more quotation from other venders.