7 Best Ways to Finance Home Improvement Projects

Home improvement projects have a way of increasing in priority when you’re always in the house.

The leaky kitchen faucet never really bothered you until you had to turn your kitchen table into a desk, forcing you to listen to the dribble. All. Day. Long.

Or maybe you discovered your cozy home isn’t quite big enough to also house an office, gym and school, so you need to rethink your space.

Whatever the reason and whatever the size of the project, you need to make a change — but how are you going to pay for it?

Considering the eye-popping price tag — the average cost for just a garage door replacement is $3,695 and a minor kitchen remodel surpasses $23,000 — you might not know where to start for financing your home improvement projects.

But whether the price tag is a few hundred dollars or into the triple digits,

Read More

Conseco Finance Home Improvement Loan Trust 2000-E — Moody’s downgrades Class B-1 from Conseco Finance Home Improvement Loan Trust 2000-E

Rating Action: Moody’s downgrades Class B-1 from Conseco Finance Home Improvement Loan Trust 2000-E

New York, August 18, 2020 — Moody’s Investors Service, (“Moody’s”) has downgraded the rating of Class B-1 issued by Conseco Finance Home Improvement Loan Trust 2000-E. The collateral backing this deal consists of second lien mortgage loans.

Please click on this link for the List of Affected Credit Ratings. This list is an integral part of this Press Release and identifies each affected issuer.

The rating downgrade of Class B-1 from Conseco Finance Home Improvement Loan Trust 2000-E is due to the deterioration in deal performance and the reduction in credit enhancement available to this bond. As of the July 2020 commercial patio furniture remittance date, Class B-1 is undercollateralized by $124,401 as losses are not allocated to reduce its balance. Furthermore, since interest accrues on the non-loss adjusted ending balance of Class B-2 and … Read More

6 Ways to Finance Your Home Improvement Project

If you’ve been staring at the four walls of your home since March, you might feel an itch to finally finish your basement or update your bathroom tiles. As long as you’re at home, you might as well enjoy what you’re looking at, right?

According to a survey by online lender LightStream, 73% of homeowners are planning a home improvement project this year. Nearly two-thirds of homeowners planning renovations will use savings, the survey says. Those who don’t have savings or choose not to spend it will need to weigh their options for financing their renovation projects.

The best way to pay for your project depends on factors like your home equity, credit and goals for the project. Here are six types of home improvement loans and how each works.

1. Cash-out refinance

The economic effects of COVID-19 have driven mortgage rates down sharply, making cash-out refinance a popular recommendation

Read More