In today's competitive market, you need a passionate, local advisor that can help you navigate the home buying and selling process. As a valued client, you'll receive:
• Local market knowledge
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• A trusted and knowledgeable partner through closing and beyond
Home Equity: How to Use It
Home Equity: How to Use It
What’s the difference between a second mortgage and a home-equity loan? What is a home-equity loan, and is it different from a home equity line of credit? And is a mortgage refinance similar to the above, or a different animal altogether? Let's take a look at all the various ways you can use your home equity – without fear of losing your home or getting taken for a ride.
First of all, a second mortgage and home equity loan are basically the same thing. These terms refer to money that is borrowed against the value of your house. Unfortunately, many people don’t realize that these loans are liens against your property – in other words, if you default on the…