2nd Mortgage for Repair on Home

I have estimated over $15k in repairs that are needed to my roof before the bad winter weather sets in. As for as a loan, would a 2nd mortgage be better than a personal loan? I have so-so credit, 620 fico. I wonder if the interest rate is better taking money from my house, using my home as collateral. i make $42k/year plus I receive retirement income, I am 78 years old and have a insurance business on the side for the last 20 years. my home was appriased in Jan this year for $644,000. I owe $488,500. I have some late payments back frm when I was in the hospital for 6 months last year too. by mcnihil768 from Inglewood, California. Dec 28th 2018 Reply