Home-Equity Do's and Don'tsBy Richard Barrington
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Mortgage activity slowed in April 2007, most likely because of tighter lending practices in the face of subprime mortgage defaults. Even so, a home equity loan is still a valid option for certain borrowing needs, especially since home equity loan rates can be much cheaper than many other forms of consumer debt.
Home Equity Do ListThe following are some of the things you should do when shopping for a loan:
Home Equity Don't ListLike any type of mortgage, a home-equity loan is secured by owning a home. Before you put that ownership on the line, consider these common traps:
Mortgage Bankers Association
About the Author
Richard Barrington is a freelance writer and novelist who previously spent over twenty years as an investment industry executive.
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