I am about to take a small break from the workforce. I have resigned already, finish going to work at the end of November and then on one months holiday until my resignation date at the end of December.
Hubby would like me to take up to 12 months off. But how to finance the loans?? What would you suggest?? We have plenty of equity. We also have a little nest egg for emergencies, but don’t feel this is an emergency so don’t want to touch it. I am sure I will go back to work in February, but if nothing comes up that I am interested in/or nobody wants me I would like life to go on as if I had an income. I don’t want to compromise my lifestyle in any way.
Should I take out a home equity loan and say it is for investment purposes? Or is there a better way? There is a lot of chatter on here about LOC. Would this be an option? I am not at all familiar with these as have always just taken out loans.
Anyway, before my payslips run out I would like to set something up so the bank is none the wiser that I am soon to be unemployed. I would appreciate your thoughts on the best avenue for me.
Kinga
Hubby would like me to take up to 12 months off. But how to finance the loans?? What would you suggest?? We have plenty of equity. We also have a little nest egg for emergencies, but don’t feel this is an emergency so don’t want to touch it. I am sure I will go back to work in February, but if nothing comes up that I am interested in/or nobody wants me I would like life to go on as if I had an income. I don’t want to compromise my lifestyle in any way.
Should I take out a home equity loan and say it is for investment purposes? Or is there a better way? There is a lot of chatter on here about LOC. Would this be an option? I am not at all familiar with these as have always just taken out loans.
Anyway, before my payslips run out I would like to set something up so the bank is none the wiser that I am soon to be unemployed. I would appreciate your thoughts on the best avenue for me.
Kinga
