Can you use a home equity loan for something other than a home?

I need a loan & some people had suggested I look into this because of the lower interest rates, instead of using high interest (not to mention EVIL) credit cards. But it’s not for a home & I don’t have enough collateral for the amount I’d like to borrow. I have a great credit score [...]

When does refinancing make more sense than a loan modification?

When does refinancing make more sense than a loan modification? Q: Last February, we got a loan modification with our lender, and I am wonder whether it would be a good idea to try to refinance with them. I am considering a refinance because there were about $3,000 in fees that we weren’t able to [...]

Why is the interest rates on Home Equity line of credit higher than second mortgage loans?

Home-equity loans harder than ever for homeowners to get

Home-equity loans harder than ever for homeowners to get Hocking the house for quick cash is a lot harder than it used to be, and it’s causing headaches for homeowners, banks and the economy. Read more on Arizona Daily Star

Why are HELOC rates so much lower than home equity loan rates? Why would anyone choose the latter?

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