Back in the days before the housing bubble burst, many homeowners took out a home-equity line of credit in order to access their home equity. Some of those homeowners could be in for a shock if their minimum payments shoot up.
As home prices began to rise in 2013, some homeowners have gained enough equity in their homes to refinance, while others still wait for their home value to rise above their mortgage balance. If you're among those who remain under water or have low home equity, a home...
If you're in the fortunate position these days of having equity in your home, you may be thinking tapping that equity for a large expenditure. Make sure you understand how a home equity loan can hurt or help.
Borrowing against home equity can be an inexpensive source of funding for home improvement and debt consolidation. Considering these aspects of home equity borrowing can help you make the right decision for your financial needs and security.
Recent media reports suggest that home equity loans and lines of credit are back on the table but with increased credit restrictions. Home equity offers homeowners a source of cash for a variety of needs.
Previously on Home Equity
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