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Further
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Stock Market Volatility - Charles M O Melia
You have permission to publish this article either electronically or in print, free of charge, as long as the author bylines are included. A courtesy copy of your publication would be appreciated. Please mailto:charles@thestockopolyplan.com...
Little Known Tax Deductions That Can Save You Big - Diane Hughes
When you say "end of the year", most small business owners think of two things immediately. The *second* is the holidays. The *first* is taxes! While almost all of us pay taxes quarterly, we still have to file in January. That means November and...
Why Look At Mobile Homes For Sale? - Steve Gillman
There are mobile homes for sale, for much less than stick-built houses, in most areas of the country. Despite the persistent predjudice against them, and sometimes against their residents, mobile homes are the cheap housing choice of millions....
Moving Key Audiences to Take Action? - Robert A Kelly
You know, those really important outside groups of people whose behaviors can help or hinder any business, non-profit or association manager in achieving his or her objectives? Are you persuading those key stakeholders – especially those whose...
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Equity loan
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Written By:
Jakob Jelling
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An equity loan allows you to borrow money from a lender to the amount of the money you have paid into a property. Equity loans usually refer to home equity where the loan provided is backed by the money you have paid into your home. There is a lien put on the equity of your home after you have borrowed the money.
Many people find an equity loan an appealing option due to the very low rates they offer. The low rates are mostly due to the fact that they are backed by a property you already own. However since the lien is put on your home, you may end up losing your home to the lender if you fail to pay. The lender may auction off the home and pay you the amount outside the lien.
A low rate equity loan can be used for a variety of different tasks. You can use the money to start a new home improvement project or put up an addition to your home. You can use it to take a much-awaited vacation or pay for your kid’s college tuitions.
Equity loan rates have been so low lately that some people even borrow the money to invest it. This can be a - continued below ...
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dangerous proposition however, since if your investment tanks you may end up losing your home.
There are two main types of equity loans you can get on your house. A home equity loan is a lump sum payment equal to a percentage of the money you have paid into your home. A home equity line of credit is different and works more like a credit card, where you borrow only the money you need from your home equity.
Equity loans have to be paid back, usually on a monthly basis. This includes the principal payment plus interest for the month. If you do not pay on time, you can end up ruining your credit and be forced to pay a higher loan rate on any credit you apply for. On the other hand, timely payments can help you raise your credit score so you are able to refinance your equity loans and secure even lower interest rates.
About the Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
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Seven Preparations for Writing a Business Plan - Gerry McRae
Writing a business plan is a daunting task. If you do not know that by now, you will discover that soon after you have read your first set of instructions for writing a plan. While each of these preparations will require much of your time and...
The 12 Most Important Lessons In Retailing - Bob Nelson
In today's fast-changing and competitive world, operating your own business is a big challenge. If you apply the following "Lessons Of Operating Your Business" -- you'll improve your income, results and financial success. 1. Know Yourself Know...
Earn money with home business utilizing internet. - Perry Saevik
You want to enter the e-business. What shall you sell if you don’t have a product already? Let me tell you, there are different articles or products out there waiting for a seller like you, you only need to find these articles or products. The...
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