Voting Question: What to look for when shopping around for home equity loans?

We just closed on our home. We bought the home for $116,505. The home was appraised at $165,000. It needs a new roof, gutters, garrage and a beam in the basement needs replacing. It could also use new carpet/flooring. How soon can we refinace and take out the equity? Would it be a good idea to take the equity right away for these repairs? None of the repairs have an imediate negative impact on the structural integrity of the home and could wait for a year or two for us to save for the repairs. Please help with some advice. 1st time home owners. The loan was 100% The home was a short sell of $50000, mortgage is fixed rate and there is no prepayment penalty.

Resolved Question: Does their small salaries cause most young adults to rationalize their situation?

They cannot buy a home or much but music download cds etc. they eat junk food and drink and smoke a lot and, inevitabilty, cry "sour grapes."

What is going on with the unhappy young adults. They seem to rebel from what they cannot afford. The rationalized they want crappy food, cheap rebellious music and fail to advance themselves by discipline and sweat equity.

Or are they all just sucked down into the black vortex of an uncaring and wicked system that has written them off. Are they just a subclass like the "untouchables" once had in India? Please explain the reality of what is happening.

Voting Question: What to look for when shopping around for home equity loans?

Any advice on what to look for when shopping around for home equity loans?

Are there referral commissions?

I have a couple of individuals looking for a home equity loan ... I told them I'd look into it for them. I'd like to find a quality vendor, but if referrals commissions are paid out, I'd like to negotiate for that too.

How do I figure out what is a "great deal"?

PS. I'll happily take general replies but this would be specific to Calgary, Alberta, Canada.

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