home equity line of credit

How Tapping Into Home Equity Is Like Pawning A Gold Necklace

Posted July 31, 2008 - 13:31 by Julie Rains

Consumer Affairs, Real Estate and Housing

pawnshop at night

It has occurred to me that tapping into one’s home equity can be like pawning a gold necklace, television set, or other personal item with resale value. Both involve using collateral, either to borrow thousands of dollars through a home equity loan or home equity line of credit aka HELOC – or to borrow $50 for a very short period of time. I think it is interesting to compare and contrast these two types of loans.

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Reverse Mortgages: The Best Way to "Eat Your Home"?

Posted October 2, 2007 - 16:16 by Nora Dunn

Real Estate and Housing

senior citizen

A senior citizen who owns a house outright but doesn't otherwise have two pennies to rub together (or who faces a financial crisis they can't afford) does have an option for accessing the equity in their home without having to sell their house or otherwise uproot themselves unwillingly. The tool in such a scenario is called a Reverse Mortgage.

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