Everyday people secure home improvement loans for a wide variety of reasons. Some feel they need to upgrade rooms or build an addition for resale value purposes. Others want to improve the quality of life experience of living in the space. The different goals make it nearly impossible for someone to definitively say that one way or another is the best way to utilize home improvement loans. That’s because it really comes down to maximizing the benefit you want. But for argument's sake, let’s consider two tracts about “best” uses — lifestyle and return on investment (ROI).

At its core, the concept behind home equity is a simple one. It’s a term that describes the difference between the fair market or “appraised” value and the outstanding balance of any and all loans that you may still owe. If your home was worth $200,000 and you still owed $100,000, for example, the equity on your home would be $100,000.

If you are dreaming of owning a home of your own, but are intimated by the home-buying process, don’t be! While there is a lot of paperwork and verification involved, it really is not as difficult as you may think. In fact, if you work with the right team of real estate professionals, including an experienced realtor and a reputable credit union or bank, the home-buying process is really a breeze! 

As you may know, Carolina Trust has recently partnered with WBTW News 13's Living Local Carolina show for a Financial Friday segment. During one of our recent Financial Fridays, we had the opportunity to visit one of our members' beautiful home in Murrells Inlet, SC and talk about Home Equity Loans and Lines of Credit with our Mortgage Loan Officer, Kelly Rowland. 

Your home-buying experience should be an exciting time, yet the process ahead is not without its drawbacks and potential problems. For many home-buyers, failing to do enough research at the beginning of the process can lead to problems down the road, and in real estate those problems can be costly.

Planning for hurricane season and other potential natural disasters can be stressful, and doing so during the COVID-19 Pandemic adds new levels of preparation to consider. In these stressful circumstances, having quick access to supplies, finances, insurance, medical, and other personal records is crucial for quickly and efficiently, starting the process of recovery. Collecting and securing these items now will give you peace of mind in the event of an emergency. It will ensure that you have everything you need to start the recovery process without delay. With two tropical storms, Arthur and Bertha, emerging before hurricane season even begins, we want to make sure you have the information that you need to be prepared. Here are a few tips to get you started:

Head and shoulders above the crowd, with a striking gold comb and a proud strut, Chauncey is easily distinguishable among the array of students, faculty and staff at Coastal Carolina University. As if his distinct look is not eye-catching enough, his fiercely loyal and fun-loving personality has a magnetic effect on all of those who meet him.

The economic impact of COVID-19 on our country has left many individuals facing job loss or furlough. Even those who have remained employed are facing concerns about paying bills and affording daily necessities due to cutbacks or reduced hours. If you've lost your job, been furloughed, or had your hours cut as a result of COVID-19, you may qualify for unemployment.

We know that you may be getting a little stir crazy, as most of the country is operating under a mandatory Stay-At-Home Order. While kids are out of school and parents are working from home, it's easy to run out of fun activities and allow isolation to get the best of you. Carolina Trust has put together a list of fun activities to do with your kids while you’re stuck at home together.

Small businesses in our area are already starting to feel the economic impact of COVID-19. With many individuals taking refuge within their homes from the virus, it leaves small business owners with a lot of uncertainty about how they will keep their business afloat and provide for themselves and their families.