Already on ArticleSlash?

Forgot your password? Sign Up

Six Ways To Pay For Foundation Repair

Neil Lemons

Visitors: 441

Repairing one's foundation is not typically an expense that is budgeted for, and often comes as a surprise. With most unexpected, but absolutely necessary expenses, consumers have to look for resources that weren't there before. One must be creative in finding ways to fix the foundation for most American's biggest investment, his/her home.

After you get a quote from any foundation company, you may ask yourself, “Where am I going to come up with an extra $5000- $12000?"

Borrow it - If you have adult children, ask them if you can borrow the an extra 5 - 10k while reminding them that they will be inheriting the house when you pass on. So it's actually an investment in their future. If you have more than one child, and only one helps you out, guess who gets the house?

Finance it - Wells Fargo and Capital One both offer special loan programs with fixed interest rates specifically for repairing the foundation of your home. Call any local representative or get the contact from the foundation repair company you're doing business with.

Redirect funds - You might have the cash, but it's stocked away in 401k or IRA. If your house is worth a lot more than those retirement plans, it might be worth it to borrow a little. Make sure you pay it back though or you could get some stiff tax penalties.

Charge it - If you have good credit, you'll often find 0% interest credit promotional offers. Usually the 0% only last for six or nine months, but sometimes last for up to a year. Put your foundation expenses on a 0% interest credit card, then move the balance to another 0% interest card until you pay it off.

Find Equity - If you have been paying on your home for very long, you may have some equity from which your lender may let you borrow from. Since having noticeable cracks in your home, not to mention foundation problems, your home will depreciate in value at a rapid rate. It's worth it to keep your mortgage payments, home improvements, or damage control, in the same “bank" so to speak.

Pawn for it - If you own any other assets such as guitars, amps, televisions, computers, record collection, you may choose to pawn these items to start your foundation repair fund. Put the proceeds in a high interest online bank, then use a combination of the other ways to obtain your needed funds and you will be on your way.

Neil Lemons represents Power Jack Foundation Repair, a Texas-based residential foundation repair company serving Arlington, Fort Worth, and the greater DFW since 1991. For more information on foundation repair services in Duncanville, Plano, Allen , or other DFW suburbs, check out .


Article Source:

Rate this Article: 
Long Lasting Cracked Foundation Repair
Rated 4 / 5
based on 5 votes

Related Articles:

Why You May Need Sinking Foundation Repair

by: Lora Davis (June 22, 2017) 
(Home Improvement/Remodeling)

Foundation Repair Choices

by: Jeff Tully (August 26, 2008) 
(Home Improvement/Foundation)

Foundation Repair What to Look For in a Contractor

by: Brien Shea (July 22, 2008) 
(Home Improvement/Foundation)

Foundation Repair Or Waterproofing?

by: Jeff Tully (August 26, 2008) 
(Home Improvement/Foundation)

Why You May Need Foundation Repair in Monroe, WI

by: Missy Brown (August 09, 2012) 
(Home Improvement/Foundation)

10 Warning Signs You Could Need Foundation Repair

by: Neil Lemons (February 27, 2008) 
(Home Improvement/Foundation)

Foundation Repair Pressed Piers

by: James Nech (June 29, 2008) 
(Home Improvement/Foundation)

The Basics Of Mud Jacking For Foundation Repair

by: Craig Powers (December 05, 2007) 
(Home Improvement/Foundation)

Atlas Piers - Cracked Foundation Repair 101

by: Lora Davis (March 21, 2017) 
(Home Improvement/Concrete)

Long Lasting Cracked Foundation Repair

by: Lora Davis (July 20, 2017) 
(Home Improvement/Concrete)