borrow or sell?

sarabellam

So replacing the door that had some water damage was going to cost $1300. When the contractor removed the old door, there was water damage to the load-bearing beams and some black mold on the sheetrock behind the door facings that had been removed. The siding has been leaking, so needs to be replaced on that entire end of the house. The job that was supposed to cost $1300 has ballooned to $4950. To pay for it, I'm either going to have to tap into the home equity line of credit or sell some stock.

JessAndTrav

That sucks so much. Sorry that you're dealing with that.

iamjoesgurl

Sorry this is happening!  I said to borrow because now is not a good time to sell stock.  It's probably gone down significantly in the last week or two.  Maybe you could sell the stock when it comes back to pay off the home equity loan??

kate51485

I have no knowledge to help advise you, but that is awful.   I had mold in the first apartment I lived in and it was a nightmare.  I hope you can get it all fixed up!

jasmineh7777

I'm sorry you're dealing with this. I've got no financial advice, but hopefully it will work itself out soon.

AmoroAgain

Oh man.  What happened?  I think I missed what caused the problem?

mica178

Do you have any stock whose long-term outlook isn't the greatest but you were hanging onto because you didn't know what else to do?  (Sorry for the complicated sentence, but hopefully you know what I mean.)  Sell that.  Don't sell your "solid" stock that you know will recover from the recent mess.  Or if you have long-term stock that's in the red right now and isn't likely to spring back anytime soon, at least you'll get a tax write-off for the loss.

allisong23

Sell stocks as a last resort, especially if you bought them higher than they sell for now. You can  lose a good amount of money, and if they go back up, you may not be able to get them back.