Bubble-Era Home Equity Loans Are Set to Bite Borrowers

Bubble-Era Home Equity Loans Are Set to Bite Borrowers
Home equity loans extend a line of credit to homeowners based on (and secured by) the value of their houses. Borrowers pay only the monthly interest on the loans for a set period of time, typically 10 years. After that, they must start paying down the …
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How to decide on home equity loan vs. line of credit
Whether it's a home equity loan, which is a straight second mortgage, or a line of credit against the house, there is little difference. The thing you should be concerned about is how much it will cost and for how long a period of time. Q.: I am afraid …
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Homeequity interest rates often higher than mortgage rate
Q: We are researching home-equity loan options and would like your opinion as to an acceptable interest rate. Our credit scores are 735 and 850, yet the last rate quote we received was 6.5 percent. I think we can do better. Do you have suggestions?
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