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Question regarding financing

I have been thinking of selling my house to finance purchasing a business. I have approximately 80 000 in equity in it. Would it be better to keep the house and use the equity as a collateral in a line of credit or some other means of financing rather than having the cash on hand and no property ownership

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Answers (11)
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Nov 16, 2016
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Nov 14, 2016
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Have you ever searched for funds, loans, financial assistance or need an accredited lender to help you meet up with your needs and demands? Do you want an Investment Loan for your business Or have your bank turned you down? Is your monthly income disappearing due to high interest rate on your Loans, Credit or Bonds? Then you have no alternative than to get an instant and reliable service. Contact us today at gggillign@gmail.com for Legit/accredited Loans, Mortgages and Investment funds

Nov 12, 2016
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Nov 6, 2016
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Oct 14, 2016
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Aug 19, 2016
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Email: chun.kome12@hotmail.com
Hello,

Good day to you and thank you for your time to read this.

We are financial services and asset management company.

Search for sustainable finances or the financial freedom to expand your business and company and to grow? We may add your company or a client / friend devise a plan for success help, We offer private loan to individuals.

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Jul 15, 2016
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IC Tool Suite
Sarasota County, FL

Hello Peter,

Keep the home equity for now until you really need it. If you have a good credit score I may be able to assist.

Here are some of the basics of what I can offer:

FUNDING AMOUNTS * (50K - $150K - average 6 -12 week processing time)

NO COLLATERAL REQUIRED - UNSECURED - MINIMUM DOCUMENTATION - NO DOWN PAYMENT

GOOD CREDIT SCORE REQUIRED * (700 or better with minimal inquiries and
late pays)

REQUIRES AN AGED CORPORATION OF 2 YEARS OR MORE OR SHELF CORPORATION
NEEDS TO BE PURCHASED

MOST INTEREST RATES RANGE FROM 6.99% - 9.99% DEPENDING ON THE CLIENT
(Application fees normally $1000 - $1500 - costs substantially less in
fees/interest than most Banks or SBA loans)

FLEXIBLE PLANS WITH EASY APPLICATION PROCESS

CASH AVAILABLE FOR ANY USE

Please let me know how I can further assist in your quest to seek money,

John Briches
Account Executive
Macro Business Capital
941-447-8370
johnbriches@gmail.com
johnbriches@mbcfunds.com
www.mbcfunds.com/johnbriches

Aug 27, 2010
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Biz2Credit LLC
New York County, NY

Peter,

Biz2Credit does a large no. of business financing deals. We would advise you to keep the house and use it as a collateral for the loan as it is easier for banks to do a SBA backed deal if there is a real estate asset involved.

Aug 27, 2010
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Corporate Financiers
President

You need to get a pre-approval of sorts from a lender prior to doing anything. I assume this would be an SBA loan and lenders want tangible collateral, which could include a 2nd on your house. What type of business are you considering?

Aug 27, 2010
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The BAF Group LLC
MD

How have you measured your equity? Many homes have lost value in the past several years, which is one of the reasons why the vast majority of banks are not offering lines of credit or home equity loans. Moreover, $80,000, less possible taxes (if any), less brokerage fees and such - it won't leave you much for putting a down payment on a business. How much cash do you have? How much money do you need to finance this deal? How certain are you about the business, that you would give up your home? What are you going to do for living quarters?

This better be one hell of a business, if you ask me. I would not do what you are suggesting.

Aug 26, 2010

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