The FTC recommends these things to avoid when borrowing for home remodeling projects:
- Don’t Agree to a home equity loan if you don’t have enough money to make the monthly payments.
- Don’t Sign any document you haven’t read or any document that has blank spaces to be filled in after you sign.
- Don’t Let anyone pressure you into signing any document.
- Do not Deed your property to anyone. First consult an attorney, a knowledgeable family member, or someone else you trust.
- Do not Agree to financing through your contractor without shopping around and comparing loan terms.