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Can I Use The Equity In My Home To Get A Loan?

The ‘equity’ in your home refers to the amount you have left to repay on a mortgage subtracted from the current market value of your home and for some homeowners, this can add up to a considerable sum if they’ve been repaying their mortgage for quite some time or have completed mortgage repayments and own their home outright. This sum of money is, in effect, ‘locked in’ to your home and a home equity release loan allows you to tap into that sum of cash to fund any purpose. The cruci........ Read More

Fixed Rate Home Equity Loans

A fixed rate home equity loan, sometimes called 'second mortgage', is a borrowing against the equity of your home. Equity means the current market value of your home minus the outstanding liability. Certain percentage of that net worth is advanced as loan. This is known as Loan To Value (LTV) ratio. Disbursement of the amount sanctioned is made in one lump sum. Normally you can choose up to thirty years for amortization. The amount of monthly repayment inclusive of interest is fixed. Lenders ........ Read More

Home Equity: Your Ace In The Hole

Almost 15 years ago, you bought your first home. You’ve been diligent in working and paying on the mortgage, and finally have more equity than mortgage. Ah, the sweet smell of victory, and home ownership. But are you playing the financial investment game as well as you think? Are you missing out on tax savings, funding strategies, or just plain smart money options? How do you check your equity options versus your tax savings options, to comparative shop and make use of your smart options? Tod........ Read More

Personal Loans Vs. Home Equity Loans

Personal loans are a great way to get money quickly for most anything you need it for, even a well deserved vacation. These loans are generally easy to obtain and require a minimum of verification including residence, income, and employment. However, personal loans also come with a higher interest rate than most other loans out there. In many causes you will be required to put up some asset you have collateral on your loan. An alternative to applying for a personal loan is to apply for a ho........ Read More

Hunting For The Best Home Equity Loan

There is no doubt about the fact that a home equity loan offers several key advantages. However there are also a multitude of home equity loan lenders out in the market today. What is the best way to choose the home equity loan that’s best for you? Essential criteria If you are a first time borrower of a home equity loan it is imperative that you have a checklist of essential questions that you need to ask each and every lender. The answers to these questions will provide a valuable refe........ Read More

Home Equity Loan Exposed

The home equity loan is a loan in which you, the owner of your home, use your home equity (the value of your interest in your property or your home's fair market value and the unpaid balance of the outstanding home mortgage) as a collateral. A home equity loan is sometimes useful to help finance or refinance major home repairs, medical bills or even college education, and for this reason a home equity loan, creating a secured loan against the borrower's house, reduces the actual home equity, a........ Read More

Credit Cards Versus Home Equity Loans

If you own your home and pay a mortgage, you probably already know that there are certain income tax advantages for deductions such as interest payments made each month. And if you use a credit card, you know that there are no such perks available, even though credit card borrowing usually means paying much higher rates of interest, fees, and penalties. For some circumstances, especially when attractive interest rates are offered, the credit card can be a superior choice. If you happen to be o........ Read More

Home Equity Loan Scams - Watch Out For These Red Flags!

If you own your home, chances are that it is your most valuable asset. As with anything valuable, you must be conscious of protecting your home and its equity. Simply put, equity is the difference between the current value of your home and what you owe on it. For example, if you have a home that’s worth $200,000 and a mortgage for $150,000, it means you have $50,000 equity. Equity Grabbing - One of the most common scams is “equity grabbing”. In one example, a homeowner may be talked int........ Read More

Working With Your Home's Equity

It is essential for any homeowner to understand how their home equity falls into place in their financial situation. Simply put, home equity is how much of the house that you own. Specifically, it is the estimated value of the house after the outstanding mortgage is removed from the equation. This is all well and good, but you are probably wondering how this can actually help you. Well, it can, and you should be ready to make the most of any option that comes your way. Knowing your home equit........ Read More

The Pro’s And Con’s Of A Home Equity Line Of Credit

Do you own the house you are living in? If you do, your home might be your greatest asset. But if you have unfortunately agreed to a loan that is based upon the equity you have in your home, you could be taking a chance with your most precious asset. Homeowners, particularly minorities and the elderly or anyone with poor credit should be very careful in borrowing money based on their home equity. This is because there are exploitative and abusive lenders that target and take advantage of these ........ Read More

Second Mortgage Home Equity Loan: More Than Words

Words can be fun. English words are particularly interesting as they are born from a variety of sources. Although it is a Germanic language, about 50 percent of English is based on Greek and Latin. Have you ever thought about the origins of certain words? Take the word "phony," for example. British crooks once used different secret code words. On of those was "fawney," which alluded to a gift ring. The thieves would sell these rings, claiming that they were made of actual gold. So, the word "pho........ Read More

Is A Home Equity Loan Credit For You?

Some of the most common credit methods being used in this dyes is using a single line of credit to borrow against the equity of a real property. These home equity credit loans are made available by a large variety of lenders in a lot of various ways. Although this can make attaining a loan seem quite easy, the fact is that this diversity can actually make it pretty hard for a person to decide which home equity credit loan to take advantage of. Where is the difference? Well, the principal dif........ Read More

Home Equity Loans For People With Bad Credit

Having bad credit is not the end of the line - especially if you have a home that has some equity in it. There still are lenders who will be glad to talk to you. In fact, they know that this kind of loan may be just what you need to help you consolidate your debt and get off to a better start. Your equity is valuable to you and can enable you to get the cash you need. Here is what you need to know. It is important that you understand that a home equity loan is a loan against your home. This m........ Read More

What You Need To Know About Home Equity Loans

A home equity loan is a popular and attractive source of borrowing for thousands of people. Part of the reason people think first of a home equity loan when they need a substantial sum of money is that home equity loans are marketed extensively, with advertisement in every medium. Lenders love home equity loans because they are highly risk free. Therefore, a home equity loan is easy to get and offers one of the best interest rate of any type of high end loan. A home equity loan is attract........ Read More

Disadvantages Of A Home Equity Loan

A home equity loan is money that can be borrowed from homeowners using the equity in their home. With this type of loan, a homeowner is able to borrow up to $100,000 against the value of their home. The interest on a home equity loan is tax deductible. There are two types of home equity loans. The first is a fixed rate loan and the other is a line of credit home equity loan. A fixed rate home equity loan works like other standard loans. The lender provides money to the borrower and the borrow........ Read More


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