Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter


redhotloantips fat loss

The Power of Home Equity Loans

Written by: Syd Johnson

A home equity loan is a great way to consolidate your debts, get a lower interest rate and manage your household budget. After a few years of paying down your mortgage you can use your new home equity to eliminate all your other debts. A home equity loan allows you to get a loan using the equity in your home as collateral.

This makes it a secured debt because you have an actual possession, the house that can be sold if a creditor needs to reclaim the money that you borrowed.

How does the home equity loan help you?
Consolidate your bills. If you are like most homeowners, you are juggling several different debt payments including student loans, credit card bills, car loans and more. If you want to consolidate all of your debts then a home equity loan is probably the best way to go.

You are borrowing against stored cash, the equity in your home, so you can usually get a better deal from your bank and borrow larger amounts than if you tried to get a personal loan with no collateral. In addition, you will probably get a low interest rate that is great for cutting down credit card and other high interest debt.

The rate will be slightly higher than you would get on a first mortgage so some caution must be followed before you decide that a home equity loan is the solution to your debt problems.

The interest on your home equity loan is tax deductible. This gives you an even better opportunity to get rid of your debt. Once you factor in the savings from your tax deductible interest payments you will see that the cumulative interest that you pay for borrowing is even less.

A home equity loan is not without risk
It is often said that the best way to get out of debt, is to stay out of debt. If you cannot pay off the new debt that is now secured with your real property, you can lose your home. A home equity loan is a temporary proposition and must be approached in such a manner.

If you are overwhelmed and overextended, only a long term financial strategy that includes budgeting, paying off existing debts and possibly increasing your income can really lead to a debt free lifestyle.

About the Author

This article may be freely distributed as long as there's an active link to http://www.rapidlingo.com
Syd Johnson

Other Related Articles:

Taking the Time to Find the Best Loan Offers
When you're looking for a loan, it might seem easy to simply accept the first loan offer that you receive. While it's true that you might receive a good deal on a loan this way, there's an even greater chance that you'll end up missing out on...read more

Loans For Bad Credit
Personal debt in the UK has soared to record levels over the past few years. The Bank of England has recently confirmed that personal debt on a national level now amounts to more than 1,065 billion. Recent media reports suggest however that...read more

Ten Ways Start-ups Use Venture Leases And Loans To Generate Millions
The rise of venture leasing and lending has created an opportunity for sophisticated entrepreneurs to gain a competitive advantage. Savvy entrepreneurs are using venture leases and loans to generate millions of dollars for shareholders by leveraging...read more

Return to Home


Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map