HELOC Articles

Want to get your personal finances in order but you're not sure how?
Here at Mortgage Loan, we have a few tips!
Interest-Only Second Mortgages
HELOC

Interest-Only Second Mortgages

Homeowners who are looking for a short-term infusion of money might consider an interest-only second mortgage in the form of a home equity line of credit (HELOC). Although other types of interest-only mortgages have practically disappeared for all but the most affluent borrowers, many lenders still offer an interest-only option on HELOCs that middle-class homeowners can take advantage of.

Kirk Haverkamp
7 years ago
Can You Still Get a Home Equity Loan?
HELOC

Can You Still Get a Home Equity Loan?

You don't hear much about home equity loans these days. In fact, it sometimes seems that lenders have turned off the tap on the once-popular second mortgages that used to fund everything from home improvements to new cars to expensive vacations and more.

Kirk Haverkamp
9 years ago
The Trouble with HELOCs
HELOC

The Trouble with HELOCs

The beautiful and fragrant rose has a dark side-if you're unprepared when you touch the stem, you're bound to be wounded by a prickly thorn. Like the rose, a home equity line of credit (HELOC) can be a beautiful financial instrument, especially if you need funds for home improvements or unanticipated medical expenses. But if you're not careful, your finances may get pricked by a painful thorn, and you may bleed for years to come.

Kara  Johnson
10 years ago
HELOC Cancellation: Are You at Risk?
HELOC

HELOC Cancellation: Are You at Risk?

HELOC lenders are now realizing that they were overly enthusiastic about approving big credit lines for borrowers. As they try to reduce their risk exposure, some homeowners are getting a surprise notification that their HELOC has been cancelled.

Aaron Crowe
12 years ago
HELOC:  The Open-Ended Solution
HELOC

HELOC: The Open-Ended Solution

When planning your financial future, the one thing you can count on is change. Unexpected life events can make the best-laid plans go awry. Flexibility is critical, and it's the main reason people choose an open-ended home equity line of credit (HELOC).

Kara  Johnson
13 years ago
Second Mortgage Loans for the Self-Employed
HELOC

Second Mortgage Loans for the Self-Employed

Self-employed people may find getting an expansion loan a challenging task. However, there are several options available, including no-doc loans, second mortgages, or lines of credit that could provide the financial relief you need.

David  Mully
13 years ago
Home Equity Loan: Beware of Mortgage Tax
HELOC

Home Equity Loan: Beware of Mortgage Tax

When taking out a home equity loan, several states require that you pay a mortgage recording tax. Don't get caught off-guard by this tax. Here's an example of how it works in New York City.

Aaron Crowe
13 years ago
Try a Savings Bank for a HELOC
HELOC

Try a Savings Bank for a HELOC

While mortgage brokers are running in circles trying to find lenders for their customers, savings banks are quietly reaching out to provide mortgages and HELOCs to good credit borrowers.

Dan Rafter
13 years ago