Smart Money Management: The “Ghost” in the Attic

It’s that time of year again! The nights get longer. Haunting winds rattle shutters and swaying trees cast spooky shadows in the moonlight. It’s time to tell ghost stories!

These stories scare us, but they can also show us something. Let’s see what one of the most popular ghost stories can show us about financial responsibility for a spook-tacular Halloween!

The Storyhaunted attic

It starts a little differently each time. Maybe there’s a bump in the night. A squeaky floorboard creaks and groans even when no one is walking near it. More and more squeaks and bumps that no one can explain keep happening. The cabinets open and close by themselves. Loud noises come from nowhere in the middle of the night. Everyone is terrified and no one can sleep. Blood starts dripping from walls as screams come from the vents and doors slam. This house is haunted.

It turns out there’s some history to the house. A gruesome murder took place there. It was built on an ancient Native American burial ground. The attic was home to an abandoned child who was forced to live there because of his hideous deformity. The only way to get back to normal is to give these angry spirits what they need.

The reality

If your house has creaking floorboards, or your heating and cooling system goes bump in the night, you might be headed for a far more serious problem than ghosts. Unexplained noises in the house could be signs of serious structural problems. Knocks in the walls can be a plumbing issue about to break loose. Uneven construction can really make cabinets open by themselves and doors slam uncontrollably. Like in the story, many of these problems come out of your house’s history. It might have been built on an old mine site or just built in a hurry.

Left untreated, these little problems can create big trouble. Squeaky floorboards can break, pipes can rupture, and foundation problems can ruin your home. If you’re counting on homeowner’s insurance to pay for these accidents, think again. Homeowners’ insurance policies broadly don’t cover “construction defects,” which means you’ll be stuck holding the bill.

Consider getting out in front of these problems. You can use a home equity line of credit or home equity loan to repair your foundation, fix structural problems in your home, and perform other necessary upgrades.

Don’t let the specter of uncertainty ruin your ghoulish good time!

How We Can Help

Connex offers both home equity loans and lines of credit that help you turn real value in your home into real money for you.  Our application process is quick and easy, and you don’t even have to leave home to get started.  Click here to apply, or visit any Connex branch to get started.

 

SOURCES:

http://homeguides.sfgate.com/homeowners-insurance-cover-foundation-repair-63590.html

http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/

http://www.free-online-calculator-use.com/credit-card-minimum-payment-calculator.html

Advertisements

Improving the lives of our members... one member at a time.

Tagged with: , , , , ,
Posted in Money Saving Tips, Tales from the Vault

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s