Lyons Leadership

Seems like it was yesterday when my parents moved into their house.  The catch is yesterday is now twenty four years ago, and some of the house is in disrepair. 

Perhaps the biggest eyesore in the house is the kitchen.  It definitely has that 80s look to it and you can see the linoleum peeling off the floor. 

I have been hounding my parents to renovate the kitchen for some time.  Their biggest problem though is that they do not have a lot of money to do this type of major repair.

They do have a good credit rating, so I suggested that we go online to compare loans offered by their bank to others in our town.

We did find that the rate for personal loans that their bank was offering was lower than their competition - definitely good news.  After trying an online calculator to determine what their monthly payments would be (we also talked to a few contractors and determined that it would cost about $10,000 to do the renovations that they wanted), we found that it was out of their reach.

So, we had to find another solution.

Just as we were about to leave their site, we did find something that caught our attention: secured personal loans.  Reading through the details, we found that a secured personal loan would be within their budget as they could borrow the equity that they had in their home to pay for the renovations.  The best part is that they could spread the payments over ten year, making it fit into their budget.

Now that we had the financing all set, all we had to do is get them to agree on the color of the cupboards…