From the category archives:

Home Equity Loans

August 30, 2008

Bridge Loan

Today’s article explains the equity way to close the financial gap between the new and the old homes’ mortgages. A lot of people count on the money they are going to get from selling their current home to make a proper down payment on their new home and start a new mortgage. Unfortunately, many properties [...]

July 30, 2008

How risky is a HEL/HELOC?

It is rather risky, I’d say, because it is secured by your home equity. Should you default on your payments, you can lose your home. But the purpose of HELOC is not to deprive you of your property; it is to provide you with some funds when needed. If you make sure that you understand [...]

July 9, 2008

Reverse Mortgage

A reverse mortgage can become a considerable financial aid to retired seniors, who live in a property they actually own. The equity accumulated in their homes can be converted into cash, but the title to the property remains with the owners. The reverse character of the mortgage is a sort of a reverse playback of [...]

May 23, 2008

Second Mortgage

Second Mortgage vs. Cash-out Refinancing HEL & HELOC A second mortgage is another (secondary and subordinate to the existing first mortgage) loan that you take out using your home’s equity as collateral. It provides you with cash, but it deprives you of the owned by the time part of your home, partially or completely. You [...]