Quote:
Originally Posted by Barry-xlovecam
You cannot borrow like a car because the installation becomes real property when it is attached to land or a house -- default requires real foreclosure not simple repossession like a car or refrigerator.
A home equity loan, mortgage refinance, or personal loan (not likely) will be the only financing available --
|
Not true.
If that were the case people would never be able to do a short term loan for a swimming pool, or adding a room to the house or adding a garage. Or any other home improvement loan.
You don't need a 20 year loan to put some panels on your roof.
It's more likely a 20 year loan to make the payments low to justify the panels.
Make the payment cheaper than your current power bill.
