Resolved Question: Is there a rule of thumb for how long you have to wait to take out a home equity loan?

: I am looking for an acronym that fits the word leg.
I started with Liquid Equity Grab.
As in the bank grabs the equity in your home.
Free up the equity in your home and really pay the bank more with a LEG (Liqiud Equity Grab)
That does not sound official like an ARM (Adustable Rate Mortgage) does.

So here is the idea either a whole new acronym that fits the LEG or a word that starts with G that fits and sounds official.

The end result must be an official sounding phrase that uses the phrase an ARM and a LEG.

My house cost me an ARM and a LEG

Any other humous acronyms would be useful

I placed this question here because I hope to get a humorous responce(s) and I could not find a catagory for humor.

Open Question: what are some of the details of a mortgage with a home home improvement loan?

Im looking to buy a house that needs a good amount of work. I dont have extra money to pay for the remodeling. But I have read that i can possibly get some sort of home improvement mortgage that will give me extra money to fix up the house. Rather than buying the house and then having to get a reappraisal and then a home equity loan.

Open Question: How should I do this?

So I've pretty much decided to sell my 2001 Saturn SL2 because I've already put more money in repairs then on the car. Everything is working fine now but I commute to college (about 108 miles a week) and I need something I know is reliable. I know I can get atleast 2000-3000 out of it. Here's what I was thinking:
1. I would try to trade in the Saturn and get something new and have a negative equity.

2. Get a loan that will pay off the Saturn ($4,000) and buy the car right off the lot. I'll trade in the Saturn and just owe on the loan. So a $10,000 loan.

3. Or get a loan that will pay off the Saturn, then trade it in and owe on the new car. ($4000 loan) I would owe on the car and on the loan.

Which is my best bet or if you know of anything else I could do. I'm a college student but I make 1400 a month, I still live at home, and I don't have any student loans.