Stated Income Equity Line to the Rescue Again
I finally got around to finishing our basement. Well that is a bit of a misnomer. I finally got around to hiring someone to finish our basement. I can’t believe I waited so long. We bought the house four long years ago if you can believe it. When we bought it one of the first things on our to do list was finish the basement.
We aren’t very good with to do lists. As far as financing goes, I put the whole project on my stated income equity line. Actually that thing has come in handy a few times. Because I am self-employed, getting credit has always been a pain in the butt. Under the stated income program I didn’t have to prove my income. Anyway I am glad I got it set up, because it has been hit and miss with other lenders since. I still have room on it so I am trying to convince my wife that a 46 inch plasma is a necessary basement finishing expense.

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