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Further
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The Subject is the Subject Line - Shawna Schuh
Getting too many emails? Spending exorbitant amounts of time doing replies, deletes, and filing? You are not alone! Today we address how to help people (and you) to be more effective with this techno touch - the Subject line! First off and most...
Give Your Business A Gift - Claudette Rowley
You have permission to publish this article electronically or in print as long as the resource box is included. Please notify me of publication by sending a website link or copy of your publication to claudette@metavoice.org. Word Count: 809 words,...
Buy, Sell or Hold? - Doris Dobkins
What should I do? My investments are down and I don't know what to do? Should I be buying now, selling or waiting the market out? What are the successful investors doing? Here's a few ideas that could fatten your portfolio and give you a greater...
Retiring and Investing in New Zealand: Spending Your Retirement Years Abroad - Ofer Shoshani
Copyright 2005 Ofer Shoshani Thinking of making New Zealand your perfect retirement and Investment place? Great idea! If you are willing to retire abroad, why not check out a paradise like New Zealand? New Zealand Retirement and Investment ...
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Home Equity Loan or Home Equity Line of Credit – Which is right for you?
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Written By:
Charles Essmeier
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The most common type of home equity loan is the term loan. This loan is set for a fixed amount of time, anywhere from five to fifteen years. Such loans are typically granted for up to 80% of the value of the home, but some lenders will lend up to 125% of the home’s value.
Is this type of loan right for you? The term loan works best for those who need to borrow a fixed amount of money for a specific purpose – paying for a wedding, a home remodeling project, a fixed educational expense, or debt consolidation. This would give the borrower a fixed repayment schedule, where he or she would pay a set amount of money each month for a specific period of time.
An increasingly popular alternative to the home equity loan is a line of credit. This type of loan works like a credit card, and has a revolving line of credit, in which the borrower may borrow against the principal more than once over the life of the loan. The borrower is usually given special checks that he or she may use to write checks against the - continued below ...
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loan amount. The borrower may borrow a little at a time, or borrow all of the loan amount at once. Unlike the term loan, the interest rate on lines of credit tends to be variable. This type of loan works best for recurring expenses – a complicated remodeling project accomplished in several stages, or a recurring educational expense such as annual tuition.
Each type of loan has its advantages and disadvantages; you simply need to decide if you want a fixed interest rate and fixed payments, or more flexibility in terms of when and how you pay. Your needs will determine which type of loan is best for you.
Either way, under current Federal law, the interest on a second mortgage is deductible from your income taxes up to $100,000.
About the Author
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.End-Your-Debt.com/ and http://www.HomeEquityHelp.net/
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Entrepreneaurship - Michael Harrison
How to be an Entrepreneur. If you are going to succeed in your business you will need to think and act as an entrepreneur. A great thing about running your own business is that it makes you think as an entrepreneur and because your thinking...
10 Ways To Make Money With eBooks - Adam Waxler
Ask any internet marketing “guru” and they will tell you the same thing: “Sooner or later you will have to have your own product to sell.” The fact is, the easiest product to make and sell is an ebook. Even if all you do is sell affiliate...
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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