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Adverse credit homeowner loans - braving the difficult winds of adverse credit.
When my wife was enquiring me about the progress of the
homeowner loan that we were planning to take, my six year old
said something that put me to deep thought. The subject was the
constant refusals by a large number of loan providers because...
Home Equity Loan or a Home Equity Line of Credit?
A home equity loan is good for items that require one large payment. This is why so many consumers use it for debt consolidation. The interest rates on home equity loans are low enough to be beat out the prevailing rates on almost every other type...
Student Credit Cards 101: A Student's Guide to Credit
If you’re a college student, you probably already have a credit card. If not, you may have plans to get one or more soon. So why should you read on? - Because financial debt is one of the main reasons that many students end up dropping out of...
Vital role of credit cards
Credit card processing is vital to operating any business in
today's society. A merchant account is the service provided by
processing banks in association with Visa, MasterCard, American
Express, Discover and other credit card companies, which...
What is an Airline Credit Card???
One of the perks associated with today's credit cards is the frequent flier program. In order to determine which program is best for you, you should consider whether you will be able to obtain benefits from the dominant airlines in your region. You...
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Your Home Equity Credit Lines
Do you need to borrow money? Home equity lines may be one source
of credit. Home equity credit lines may provide you with large
amounts of cash at a low interest rate and they may provide you
with certain tax advantages with other loans.
Home equity lines of credit require you to use your home as
collateral for the loan. This may put your home at risk if you
are late or cannot make your monthly payments. Those loans with
a large final (balloon) payment may lead you to borrow more
money to pay off this credit line, or they may put your home in
jeopardy if you cannot qualify for other refinancing. If you
sell your home, most plans require you to pay off your credit
line at the time of closing. In addition, because home equity
loans give you relatively easy access to cash, you might find
you borrow money more often.
Remember too, there are other ways to borrow money from a
lender. For example, you may want to explore second mortgage
installment loans. Although these plans also place an additional
mortgage on your home,
second mortgage money usually is loaned
in a lump sum, rather than in a series of advances made
available by writing checks on debts. Also, second mortgages
usually have fixed interest rates and fixed payment amounts.
You also may want to explore borrowing from credit lines that do
not use your home as collateral. These credit lines may be a
better option for you and your situation. These are available
with your credit cards or with unsecured credit lines that let
you write checks as you need the money. In addition, you may
want to ask about loans for specific items, such as tuition,
cars, and those nasty credit cards. Either way, home equity
lines can be useful if done the right way.
About the author:
Copyright Troy Francis. Troy is a writer and real estate broker
for Century Mortgages. Please feel free to republish this
article. We only ask that you leave the link active. You many
see more articles like this by going to:
http://www.CenturyMortgages.org
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