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Justin's in Houston, Texas.

Justin, welcome to the Ramsey Show.

Hello, Dave.

Thank you for taking my call.

Sure.

I was wondering about taking a loan out for home repairs for the end goal being to sell the home.

And I know that debt is bad, but the situation is that I have two elderly relatives with a fixed income and the houses that they have fortunately are

completely paid off the issue is that they have like the significant damages to

the foundation to their wall a lot of it they're safe to in, but I was thinking perhaps if there's some equity

loan could be taken out against it in order to fix those significant issues and then sell

off those houses so that they can eventually live in like a smaller place, like a condominium

or a townhouse where they wouldn't be

burdened by the property taxes that these houses are in, if that would be acceptable,

in your opinion?

I would not do that, no.

Because as always with a story with debt, your story only works if it works.

But I've been there when it doesn't work.

Like when these people with hardly any income have a home equity loan, the house won't sell,

and the interest rates go through the roof.

Did you notice interest rates have been rising?

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