Loans Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Home Equity Loan Information - What Is A Home Equity Line Of Credit?


Did you know that if you have a home that you've been paying on for years, you may have a lot of usable money right under your nose? What's more, a home equity loan just may be the perfect way to get your hands on that money!

Here's how it works. Let's imagine that your home mortgage is for $250,000, but after years of paying on that note, you only owe the mortgage company $100,000. In this instance, you would have $150,000 in equity in your home. A home equity loan is a specific type of loan that will allow you to borrow against that equity.

Why would you want to do this? The number one reason that people take out home equity loans is as a means to consolidate their debt. Because a home equity loan is a secured loan, the interest rates are considerably lower than that of credit credits or personal loans. And so if a person had $10,000 in credit card debt, they could reduce the total amount of owed-as well as their monthly payments-by taking out a home equity loan and using the cash to pay off their credit card debt.

Another great reason for taking out a home equity loan is to make improvements on your home. Have you been thinking about adding a swimming pool to your backyard? A greenhouse to your yard? A new bedroom or bathroom addition? A home equity loan is a great way to finance those types of projects.

Your first step should be to talk to your current mortgage company about your options, but don't stop there. You will quickly find that there are plenty of companies who are willing to lend you money against your house, and so you should shop around for the best deal.

And that brings us to our final point. A home equity loan is secured by your home. What that means is that if you don't make the payments on time, the lender will have the right to take your home and sell it in order to collect on the debt. Make sure that you are in a position to pay back any amount you borrow against your home!

To view our recommended sources for home equity loans, visit: Recommended Home Equity Lenders Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website with articles and the latest news about various types of loans.


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Wall Street Journal

Leveraged Loans Not as Safe as They Once Were
Wall Street Journal
Investors bought record amounts of junk-rated corporate loans in recent years, betting they would deliver more stable returns than high-yield bonds, but the loans are no longer as safe as their owners may think.



Center For American Progress

What Do We Know About Student Loans? Less Than You Think
Center For American Progress
Despite the fact that nearly 1 of every 5 American adults is saddled with student loan debt—a total of $1.5 trillion—little is known about the various, often-treacherous paths borrowers take as they navigate repayment. The landscape remains such a ...
Report Reveals How Borrowers Recover After Federal Student Loan DefaultThe Student Loan Report

all 13 news articles »


Journal Gazette and Times-Courier

9 Alternatives To Payday Loans
Journal Gazette and Times-Courier
You have an important bill to pay and not enough money to pay for it. A payday loan might be the solution to your problem – if you don't mind paying very high interest rates. It's not uncommon for payday loans to have APRs above 100%. Is there a better ...

and more »


U.S News & World Report Money

Everything You Need to Know About Parent PLUS Loans | US News
U.S News & World Report Money
Parent PLUS Loans are for parents or legal guardians of undergraduate students to help pay for college. They have greater repayment flexibility, but often have ...
How to Find How Much You Owe in Student LoansU.S. News & World Report (blog)

all 4 news articles »


Forbes

Student Loan Forgiveness Dos And Don'ts
Forbes
If you pay attention to these "do's" and "don'ts," then you'll be on the right track for student loan forgiveness. Here's what you need to know. Student Loan Forgiveness. If you have student loans, you're not alone. According to personal finance ...



Fox Business

Fannie Mae, Freddie Mac offer home loans for 3% down | Fox ...
Fox Business
The products are designed for individuals with low-to-moderate income levels.

and more »


St. Louis Business Journal

Commentary: Student loans and death
St. Louis Business Journal
The media has recently focused on the student loan ticking time bomb for both students and parents. As bankruptcy lawyers who have represented debtors from the lowest to the highest court in the land for more than 40 years each, we've seen this unfair ...



U.S. News & World Report

Can You Pay Student Loans With a Credit Card?
U.S. News & World Report
When you move student loan debt to a credit card, you give up certain protections. For example, you no longer have consolidation, deferment, forbearance or loan forgiveness options. If you have a federal student loan, you'll lose options for death ...

and more »


CNBC

Turkey's crashing currency likely to unleash wave of bad loans in region
CNBC
Now, the expense of servicing those loans has jumped with the lira's decline, and they will be much more difficult for banks to roll over. The second risk is the possible sharp rise in nonperforming loans, including those made in foreign currencies ...
Turkish lira rallies as Qatar makes $15bn loan pledgeThe Guardian

all 10,993 news articles »


CNBC

More than 1 million people default on their student loans each year
CNBC
More than 1 million student loan borrowers each year go into default. Outstanding education debt in the U.S. has tripled over the last decade and now exceeds $1.5 trillion, posing a greater burden to Americans than auto or credit card debt. For many ...

and more »

Google News

home | site map
TIGER MEDIA© 2006