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Home Equity Loan - Is It For You?
A Home equity loan has become an easy way to not only pay off
other non-deductible debt, but to come up with large wads of cash
for remodeling projects, vacations and more. People have financed
college educations with a home equity loan, so your imagination
is your only barrier. There are few if any restrictions on a home
equity loan because in essence you're using your own money. With
housing markets booming over the last several years, and no
definitive end in sight, the higher prices we find attached to
our homes has sent the equity soaring too. It's no longer
necessary to gamble in the stock market if you're looking for
large returns: just own a house, and then use a home equity loan
to fund your particular needs.
A home equity loan can offer many attractive features, but
there are a few things to be keep in mind. Be aware that in an
inflated market, your home's value could at some point take a
dive and you find yourself in a situation where your loan exceeds
your home's worth, particularly if you've taken advantage of one
of the 100-125% offers you see so often these days. Just be aware
that it is never a good idea to use all your appraised equity
unless absolutely necessary. Also, try and go with the home
equity loan that costs the least. If you're going to tack on
several thousand dollars in fees, then it could really not be
worth it. People sometimes get blinded by the prospect of easy
cash, and pay these fees without thinking. Shop around. A home
equity loan is part of an extremely competitive market, and if
your credit is okay, or sometimes even not so okay, a direct
lender can offer a home equity loan with few if any costs.
Typically, mortgage brokers are unable to do this.
A home equity loan can be your ticket to not only changing
non-deductible debt to deductible, but an easy source of
available cash to help start a business, finance a vacation,
remodel or more. Check out a home equity loan today!
Keith Thompson is a real estate investor and webmaster of
Mortgage Loans Today
where you can find the latest news and resources on a Home Equity
Loan
MORE RESOURCES updated Tue. June / 06 / 2023
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Regulators Warn Lenders to Be More Careful
Federal banking regulators have recently expressed some
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United States have risen to record levels. While homes are
more unaffordable than ever for many people, the lending
market remains strong, mostly because of the introduction
of new, ever-more-flexible types of loans.
When Not To Agree To A
Home Equity Loan
Before you borrow money on your home's equity, think twice
so you don't end up paying more than you expected. According
to the Federal Trade Commission, homeowners-particularly
elderly, minority and those with low incomes or poor credit
should be careful when borrowing money based on their home
equity.
Guide to
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Here is a useful guide to remortgages. What is a
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Home Equity Loan
Risks
Home equity loans give individuals a tool to extend their
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Decision Time: Home
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Home equity loans and home equity lines of credit continue
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Ending Your Private
Mortgage Insurance Early
Private mortgage insurance, or PMI, is the safety net of
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payment on the balance of loans not covered by the sale of
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How Good a Deal Is Your
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When you go to the bank to get a mortgage, you'll
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Home Mortgage Loan
Information - Which Type of Home Loan is Best For
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If you are considering buying a home, then you may be more
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Florida Refinance -
Refinancing in Florida
The decision to buy a home in Florida can be one of the
best you will ever make. If you own a home in Florida you
may be considering refinancing.
Bad Credit Refinance
Loans - Finding a Good Lender
Finding a good lender to help you with refinancing your
home loan can be tricky if you have bad credit. There are
plenty of predatory lenders out there who would like to
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and fees.
How to Get the Best
Mortgage
This is a guide on how to get the best mortgage deal. Do
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you are in a hurry for a mortgage.
How to Find the Best
Mortgage
The purchase of a new home is one of the most important
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programs.
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Finding home loans can be a daunting task, whether you're a
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Looking for a Bad Credit
Home Improvement Loan
To make needed repairs to your home without the advantage
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for repairs and improvements even if some other lenders
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I have a lot of friends and family who are currently buying
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PayDay Loan Online -
Quick Cash Advance Loans Online Are Very
Convenient
Getting a quick cash loan, cash advance or payday loan has
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Today you can apply and be approved for a payday loan or
cash advance fast, in the comfort of your own home.
Refinancing Your
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Refinancing a mortgage is simply taking out a new mortgage.
It means paying off one or more old debts by getting a new
loan.
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