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When Financial Emergencies Strike!

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Jennifer Streaks Financial Post

Home Equity Finance Options are a Great Choice for Homeowners

This post was sponsored by Capital One but the words and thoughts are my own.

 

We know that eventually an emergency will strike. Whether it is a basement flood or a refrigerator that stops working.  My own personal experience with emergencies was when a fully grown tree fell in my yard and hit a neighbor’s car. What is the best way financially, to handle these emergencies when they arise?

You have a few options. You can immediately go to the bank and take out all of your cash to remedy the problem. You have taken care of the problem, but then what?

You can use a credit card. This works, but now you have what could be a large sum of money on a credit with a high interest rate. Most credit cards have double-digit interest rates. Imagine the monthly payment on that. Yikes!

You can use your home equity line of credit. This option works for many reasons. First, you don’t use up all of your cash. Second, you won’t have a large balance on a credit card and third, you can typically write off the interest paid on a home equity line of credit on your taxes to reduce your taxable income.

What I really like about a HELOC is that you have a lower interest rate and can have a longer time to repay the balance so that the payments don’t break the bank.

Using a home equity line of credit can seem challenging, but Capital One has made it much simpler to go through the entire process of pre-qualifying and applying on your own.

 

To get started with Capital One, visit capitalone.com/home-equity. Just by visiting the website, you can get your customized rate offer and estimated loan amount – with no impact to your credit score – and even begin the application process. It’s simple and there are no burdensome fees, either.

 

Whether you are consolidating debt, starting a business, or fixing an emergency, Capital One is there to help with simply smarter tools that help you choose the right option for your situation.

Why else should you consider Capital One? I trust them and have used them myself. Capital One is going to be that financial partner that truly wants to help and has put together useful financial products that anyone can use when financial issues occur.

Visit capitalone.com-home-equity for more information today.  And continue the conversation about great financial choices by following Jennifer on twitter @JStreaks and visiting her website at www.JenniferStreaks.com!

 

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