Back to: Home
Previous Post: Cash in on the Benefits of Secured Home Equity Loans
Next Post: A Frugal Guide to the Iowa State Fair (or Any Similar County or State Fair)
Do You REALLY Need a Home Equity Loan?
By | August 9, 2008
Topics: Rich Dad Poor Dad |
Your equity is the amount your home is worth, on the market, minus the amount you owe to your mortgage broker. For example, if your property is worth $200,000 and the balance you owe your mortgage broker is $100,000, then your home equity - the part of your property that you own free and clear - is $100,000. A home equity loan is a loan that uses the equity in your home as collateral.
Do You REALLY Need a Home Equity Loan?
