Home Equity Loans Making a Comeback
Home equity loans, which practically disappeared over the past year following the collapse of the housing market, are making a bit of a comeback. |
Good Time for A Home Improvement Loan?
Thinking about a home improvement project? With carpenters and other skilled trades hungry for work, and mortgage interest rates their lowest in decades, it looks like a great time to tackle a major home renovation. The... |
Secondary Mortgage vs.Home Equity Line of Credit
What's the difference between a second mortgage and a home equity line of credit (HELOC)? Both offer ways to tap into, or borrow against, the equity in your home. But there are some significant differences. Read More» |
Should You Use a Home Equity Loan to Pay Off Credit Cards?
With credit card interest rates rising right through the roof, some homeowners may be wondering whether a home equity loan or line of credit (HELOC) is the way to get their debts under control. The answer is a definite maybe. Read More» |
Don't Use Home Equity like an ATM
Your home provides shelter and warmth. Your ATM machine provides easy access to cash. If anything should be learned from the recent housing market crisis, it's that the two must never be confused. Read More» |
Home Remodeling Booming Despite Troubled Economy
It appears that reports of the housing industry's death have been greatly exaggerated. Some sectors of the industry, such as home sales, continue to slump, but the home remodeling business is booming. Read More» |
Second Mortgage May Block Mortgage Refinance
If you find a mortgage lender that will refinance your first mortgage, consider asking for a loan large enough to pay off your second mortgage, too. Read More» |
Negative Home Equity Growing Rapidly
If you owe more on your mortgage than your home is worth, you have negative home equity. That often leads to foreclosure and bankruptcy. The value of home equity is shriveling, leaving growing numbers of homeowners upside down... Read More» |
Mortgage Rescue Impossible for Many in Home Equity Trouble
When home values rose, so did the popularity of the home equity mortgage. Many homeowners used these loans to tap into fast cash, as houses became the new ATM machines. Today, the same easy path to money is a major obstacle to... Read More» |
Banks Cutting Home Equity Lines: Is it Legal?
One bank's decision to slash home equity lines of credit has spurred a class action lawsuit. Is the argument legally valid? Read More» |
Homeowners Suffer $3.3 Trillion Home Equity Reduction
More bad news has been released on the state of the housing market. Homeowners absorbed trillions in home equity reductions last year, and most of the damage was done in the fourth quarter. Read More» |
Falling Home Prices Impacts more than Home Equity
The impact of falling home prices on home equity values has been well documented; but now, other areas are being affected, as well. Read More» |
Breaking New Records: Home Equity Delinquencies
A new report shows rising delinquencies on home equity loans and home equity lines of credit, as consumers struggle to manage their debt payments under increasingly tight economic conditions. Read More» |
Falling Home Equity: Should You Walk Away?
Voluntary foreclosure may be the next disturbing trend in housing, as homeowners rebel against falling home values and negative home equity. Read More» |
Home Equity Borrowers Getting a Break
The prime rate is at its lowest level since 1955, and home equity borrowers are reaping the rewards. Read More» |
Conservative Consumers more Cautious about Tapping Home Equity
The downturn in the housing market has inspired a new wave of thinking among homeowners. In the past, it was easy to cash out a huge amount of home equity and redo a kitchen. The drop in home values has shattered that... Read More» |
American Home Values Heading into Deeper Waters
Home values are still sliding, and the trend is sending more and more homeowners into negative home equity territory. Read More» |
Are Home Equity Loans Good Options for Debt Consolidation?
To consolidate debt or not to consolidate debt used to be a foregone conclusion. When housing prices were rising and home equity was plentiful, debt consolidation via a home equity loan was a no-brainer. Today's plummeting... Read More» |