Hurricane Season is in mid-swing in Florida. Are you prepared? Financially that is!
Hurricane Season is in mid-swing in Florida. People took advantage of the tax-free weekends to stock up on their rations like bottles of water, vital medicines and cans of tuna, buying batteries by the case and trying to meet the Hurricane VIP – the neighborhood roofer! All the while they are forgetting to have ready CASH in an emergency – cash that could come from a Home Equity Line of Credit (aka HELOC).
The HELOC is a life preserver when there is a sea of people out there all clamoring to get their home repairs done. Having ready access to cash is essential to quick repairs. Many contractors will be very busy and turn away business if they have to offer financing.
When a homeowner does not have cash available, we see the all-too-familiar blue tarps for months until finances catch up to repair costs…
…and when there are major repairs to do, it may be hard to get financing! A lender may not write a loan on a property in need of hurricane repairs