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How a Home Equity Loan Works

A home equity loan is when a lender loans you money against your home’s equity. Payments are made every month on top of your existing mortgage. Being able to take out a loan against your house for emergencies or other expenses gives people flexibility when they are short on liquid cash.

Pros and Cons of a Home Equity Loan

A home equity loan is an attractive financial tool, but sometimes the pros do not outweigh the cons. In some cases, a home equity loan can become a financial burden. Although equity loans are a good option for unavoidable expenses that you can’t afford, the question is if they meet your individual needs. The answer to this question can be found by looking at the advantages and disadvantages of home equity loans.

4 Ways to Stop a Foreclosure in Its Tracks

Have you received a foreclosure notice in the mail? If so, it’s imperative for you to take swift action against it. Not only can a foreclosure ruin your credit rating, but losing your home is never a good thing and it can be very hard to find a good place to live if you have gone through a foreclosure. Fortunately, there are some options that can help you deal with this critical situation with ease. Getting a foreclosure notice doesn’t mean you have to lose your home. 

What You Should Know About Home Equity Lines of Credit

If you are in the market for credit, a home equity plan is one of several options that might be right for you. Before making a decision, however, you should weigh carefully the costs of a home equity line against the benefits.

Differences in Fixed Rate Mortgages and Other Mortgages

When purchasing property or refinancing a home, a borrower should consider the various types of mortgages available to fit within their needs and their budget.  Listed below are a few different types of mortgages that are available to help you find the best type of loan to best suit your needs.

Advantages and Disadvantages of a Home Equity Line of Credit

A home equity line of credit (HELOC) is a financial tool available to homeowners who have equity in their home. Although it is an option for most people, the advantages vary from person to person. A HELOC is similar to a home equity loan, but instead, the loan is in the form of a line of credit. There are advantages and disadvantages of a home equity line of credit. You should considered these factors before you decide if it is right for you.

 6 Questions to Ask When Choosing a Home Equity Loan

A house is usually one of the biggest assets that a person owns. Whether it is big or small, it plays an important role in a person’s life. That is why homeowners should decide very carefully when taking out a home equity loan. There are important questions to ask when choosing a home equity loan. 

Pros and Cons of Renting and Buying a Home

Finding a place to live can be a daunting task. Many things go through your head when you make this decision – the first of which is probably “Should I buy a house or should I rent it?” Before you take the big leap, you must first decide which option is best for you.

Mortgage Points and Closing Costs Explained

A mortgage point is the amount equal to 1% of the mortgage loan amount. For example, let’s say that you take out a loan of $400,000, one point will be $4,000.  This article explains mortgage points and closing costs, and offers a few tips to avoid paying them. 

How to Save Money While Moving

Moving can be expensive if you're not completely prepared for it. Your main moving expenses will be on packing materials, gasoline, food, movers and figuring out how to coordinate your move. Consider these tips for your next move.