The Home Equity Loan Zone

Mortgage brokers don’t work for banks, nor do they lend money. They work as independent free-lance agents. They may have a working relationship with more than one commercial bank, savings and loan association, investment bank or private lending source.
Brokers work as go-betweens, bringing borrowers and lenders together for a fee. Their fee may be […]

Have you seen the ads? “Home equity loans are the perfect way to consolidate debt.” But the Federal Trade Commission warns, “Borrowers Beware!” And, the warning goes double if you’re a homeowner on a fixed income, a low income or have poor credit.
Why? The answer is simple. Home equity loans are very risky. You […]

Using the equity in your home as collateral for a loan to pay off unsecured credit card debt may be a good idea. It’ll probably get you a lower interest and some tax benefits.
But home equity loans are not without risk. If you’re unable to control your spending and just max out your cards […]