How Tapping Into Home Equity Is Like Pawning A Gold Necklace
Posted July 31, 2008 - 13:31 by Julie Rains
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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