Best way to get money thru a home equity loan?

I own a home and want some extra money.I have about 200,000 equity on my home and my loan is for a 100,000.My credit is not the best in the world.I have 2 credit cards total of 1,700 dollars and owe a few doctor bills totaling 730 dollars.My house payments are current and I have no car loan.My salary just barely pays my bills.Maybe I can leave some money in a high interest account to acquire some money from the equity loan too and use some of the money to do a few things to house but not major remodeling just new carpet,paint landscaping etc etc.What is the best way to get some extra cash,I am a single mom and only have my one income coing in and can%26#039;t take another job because I have to take care of my other responsiblities as a mom.Please no loan companies respond. Just want to make my quaility of life a little better.Thanks anyone.

Best way to get money thru a home equity loan?

I%26#039;m a single female (not a mom) and I got an equity line of credit on my house. I get a check book and can use it for big purchases or to pay off my credit card, which I did because it cut the interest rate in half.

The down side is that on that loan the rate is adjustable and it went from 6.75% to 8.5% in 2 months. I didn%26#039;t owe very much, but if you do the math you can see how such a jump can force someone into forclosure because that jump in interest rates really bumps up your debt. Apply for a reasonable line of credit, maybe $20,000 or so, that gives you an emergency cushion if you need it but not enough to get you into real trouble. You can%26#039;t borrow your way out of debt, you have to manage that money carefully because it%26#039;s really a 2nd mortgage on your house and it can leave you financially vulnerable if you don%26#039;t manage it well.

Having said all that, it%26#039;s been a valuable tool for me, it allows me to take care of some things around the house sooner rather than later. I charge it on my credit card (to get the airline miles) then pay off the credit card with the equity line of credit check book and then always pay more than the minimum balance due.

Good luck.

Best way to get money thru a home equity loan?

Where is your question in all of that?