Equity release to offset other debts?
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humbert
Apprentice
Joined: 20 May 2005
Posts: 8
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 Posted: 03/01/08 - 05:21 Post subject: |
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| Hello there! My name is Peter Collins. I have a question about an equity release. I am in a quite uncomfortable situation where I have to pay back some of my loans. However, it would be very hard for me to do unless I get some financial asistance. I would appreciate if someone could tell me whether an equity release to offset other debts is a good idea? Thank you in advance. |
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agnola
Apprentice
Joined: 01 Aug 2007
Posts: 6
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| Posted: 03/30/08 - 21:52 Post subject: |
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| Hi there Peter. I am so sorry to hear about your financial hardships. If there are no other ways to solve your problem, equity release is a nice option. By taking equity release you will get some funds based on your property, a house for example. The catch is that in once you die, a lender will take the property. So, in case you don’t intend to leave your property to your familly member, go for it. It can be a good way to get some financial help. Just think about all the types of equity release, since there are several of them. I hope it will all go well. Take care! |
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