Home Equity Loans Explained

If you’ve owned your own home for several years, the chances are that your property has increased in value at the same time that your mortgage has reduced. This equity in your home can be a potential gold mine because you can borrow against it to invest, allowing you to harness your home’s financial potential. Many people get nervous about ‘betting the house’, and this strategy isn’t right for everyone, but in the right circumstances it can significantly increase your wealth over the long term.

Making Sense of Home Equity Loans

With all the attention on foreclosures and “underwater” mortgages, it’s easy to forget that millions of Americans have owned their homes long enough to have substantial equity. It’s still possible for many to tap into that wealth through a home-equity loan. There are two ways, each with pros and cons. With a home equity installment […]