A home equity loan comes to mind--use the equity in your home as collateral for a loan. But what if you don't have equity in your home? A Title I home improvement loan could be the answer to your needs.

This was the answer for nearly 72,000 homeowners in 1994. Named after the law that created it, Title I home improvement loans are used to help people improve the conditions of their home without the need for equity in the property. The loans are insured by the Federal Housing Administration, so people of modest incomes can utilize the benefits.

Don't expect to get an easy-cash loan, however. Title I loans can only be used for home improvement needs. Proceeds cannot be used for debt consolidation, cash-out or any non-home related expenses.