| Are you suffering with a leaky roof because you don't | | | | repairs. |
| have the cash or the credit required to repair it? It can | | | | * Get a home equity loan. For homeowners with equity |
| cost a homeowner from hundreds to thousands of | | | | in their home, this may be a good option to finance |
| dollars to repair and replace a roof or any other major | | | | roof repairs or maintenance. |
| structural defect. But if you have a clear car title, you | | | | * Get a personal or home improvement loan. If your |
| don't have to suffer interminably. Secured debt | | | | credit score is still acceptable, you can approach |
| instruments such as a title loans can give you the cash | | | | conventional lenders and banks for funds without |
| you need in times of emergency. | | | | having to put up collateral and the interest rates you |
| Car title loans are designed for subprime borrowers | | | | pay will be much lower. |
| with a bad credit score. All you need is a clear pink slip | | | | * Apply for a car title loan. This option is suitable for |
| and you can get a large sum of cash in a few hours. | | | | those who have bad credit, but have auto equity and |
| You can use the title as collateral to get a quick loan | | | | can therefore provide collateral in order to secure the |
| for emergency home and roof repairs. | | | | debt. For borrowers with bad credit, a car title loan can |
| If you have bad credit, you know how hard it is to find | | | | help you get emergency repairs done. This will help |
| a lender who will give you a low-interest loan. For | | | | you prevent further damage to your home and |
| homeowners who need funds for emergency repairs, | | | | property without having to approach a bank or loan |
| it can be a blessing because the loan is secured, so | | | | shark for cash. |
| interest rates are less than for unsecured debt. | | | | As long as you have proof of ownership of your |
| A leaky roof is an emergency for most homeowners. | | | | vehicle and possess the documents to show that it is |
| Most roofs require repairs over time and if not take | | | | paid off or nearly paid off, lenders will be happy to give |
| care of, leaks can get worse leading to property | | | | you cash against your car title. However, as title loans |
| damage worth thousands of dollars. Repairing a roof is | | | | are given to subprime borrowers, you must be |
| a large expense for most homeowners and, unless | | | | prepared to pay a higher interest rate than with |
| you have a little cash set aside for a rainy day, that | | | | traditional lending sources. |
| cost is going to take a large bite out of your family's | | | | You can borrow up to 50 percent of the car's |
| budget. | | | | wholesale value with these instruments. And if you |
| If you're lucky and your roof requires only minor | | | | strictly adhere to the terms of the agreement and |
| repairs, you won't need more than a few hundred | | | | make your payments on time, it will help you establish |
| dollars to repair the roof. The cost will depend on the | | | | a positive payment record and boost your credit |
| size of your home, materials used, the contractor you | | | | score. |
| hire, and the area you live in. It ranges anywhere from | | | | Once you reestablish credit and have a good credit |
| $2,000 to $10,000 depending on all these factors. If you | | | | score, you can turn to conventional lenders for a loan |
| use materials such as asphalt or shake, the costs can | | | | with lower interest rates. Because subprime borrowers |
| spiral to even $25,000. | | | | are vulnerable to disreputable lenders, you must be |
| Roof repair financing options are available for most | | | | especially careful to read the terms of your title loan |
| situations. You can choose the one best suited for | | | | agreement carefully. |
| your situation from those below: | | | | Beware of lenders who use aggressive selling tactics |
| * Ask your contractor to work out a payment plan. | | | | and make sure that you are not being charged |
| Although some contractors want their money upfront, | | | | exorbitant interest rates that will trap you further into |
| most will want to keep a client and may be willing to | | | | debt ending up with your vehicle getting repossessed. |
| offer you flexible payment terms for your roofing | | | | Look for a lender that offers reasonable interest rates |
| contract. | | | | and allows convenient and flexible terms so you can |
| * Use your credit card. If you haven't maxed out your | | | | avoid repossession. |
| cards, you can use one of them to fund your roof | | | | |