® ® The Dallas Post Fall Home Improvement (ARA) - With winter just around the corner, home- owners might be consider- ing projects to improve their home for cold weather. Or perhaps they are simply looking to remodel or up- _date their home. Considering new windows to replace those with “old- world-charm?” What about a new heating system to save on utility bills? Or, is that avocado green tile and matching appliances in your kitchen crying out for ‘a remodel? Whatever the reason, there are several easy ways to finance home improvements. The secret to success is finding the right financing option for you. Refinance with cash out Experts agree that home improvements are a great way to increase the value of a home. For homeowners who haven't recently refi- nanced and are in the mar- ket to remodel, taking cash out from a home refinance could be the right option. Homeowners should make sure it makes financial sense to pull money from equity in a house, suggests Lori Vella, senior vice presi- dent of National Retail Lending at Washington Mu- tual. “Improving your home is almost always a smart investment, especially in this rate environment. Just make sure you'll be in the home long enough to re- coup the cost of refinanc- ing,” says Vella. Affordable mortgage rates are an appealing way to fi- nance home improvements or remodels. As interest rates have inched down, lenders report increases in the number of consumers who take equity out of their home during a refinance. NOW Scheduling Work for Spring & Summer 2002! - Complete Installation Also Available - PHOTO COURTESY/ARA Many financial institutions offer special programs and incen- tives for home owners for home improvement projects. For homeowners whose in- or for those who have re- terest rates or mortgage cently refinanced, it may payments are already low, make better sense to con- How to find the backing for home improvement sider taking a home equity loan or home equity line of credit. Home equity loan or second mortgage Taking a home equity loan, also called a second mortgage or second trust deed, is a good option for borrowers who are not in the market to refinance and are considering a large home improvement project, often including structural changes to the home. This option is beneficial to homeowners who want a longer term to pay off the loan, say 10 to 30. years, versus a shorter-term home equity line of credit. Home- owners should take a look at how much money they will need to finance their project, decide if they will be making structural changes to the home, and See FINANCING, pg 11 Consider Allan Block e Cost Efficient e Durable * Versatile Attractive ° Engineered to do the job iN [01 1 FAT ST aXe) GaN: Bele] [@f {3 ) = BLOCK RETAINING WALL SYSTEM STAUB WALL SYSTEMS will supply all the material you need to build a quality wall at an affordable price. We can aid you with the design & engineering of the wall and help you start the project. We keep an extensive inventory of Allan Block at our Lehman Twp. location STAUB WALL SYSTEMS PAGE 2 SEPTEMBER 27, 2001
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