As the interest rate on credit cards and other loans continues to increase, many people have turned to home equity loans as a method of borrowing money at a low interest rate. The equity of your house is the difference between the value of your house at any given time and the amount of money you owe on the total balance. A home equity loan is a great tool for consolidating high interest loans and credit cards.
Another Mortgage ? Can You Afford That?
Home equity loans are also known as second mortgages, and can provide you with many benefits that don't exist with other types of loans. The interest rates can be much lower than credit cards. It isn't uncommon to see equity loans which have interest rates which are at least 60% lower than credit cards. They are a View the rest of this article
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