Question by tripeace: Home Equity Loans?
Can somebody please explain to me how house equity financing function?
Answer by alterfemego
There are like lines of credit that draw against the homes equity. So you may be provided a book of checks you are able to employ whenever we desire. But, this kind of loan is a big NO NO inside Suze Orman’s globe. She states you really need to not employ the homes equity like the individual bank. Why do we think a lot of persons are upside down inside their financing now? They pulled all equity out plus not values have declined. ooops!
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