heloc: What Are Your Home Equity Options When You Have Poor Credit? - 03/26/19 12:10 PM
What Do Lenders Look For in Home Equity Applications?
If you're facing financial strain in your life, a home equity loan might be the answer to your credit issues. Not only does settling your high-interest debt with a low rate home equity loan cut down on your liability, but it diversifies your credit mix and can improve your credit score to boot.
While you may face higher interest rates and lower loan limits with a damaged credit profile, it doesn't necessarily preclude you from obtaining financing. In most cases, home equity loans and HELOCs will still prove to be significantly cheaper than alternative sources of … (2 comments)

heloc: When Should You Get a Second Mortgage? - 06/06/18 12:03 PM
If you're a borrower seeking funds for emergency expenses, you may be dismayed by the rates available on personal loans, which can average 10%–28%. However, if you're also a homeowner who has built up substantial equity, you may be in luck, as a second mortgage offers significantly cheaper rates than unsecured personal loans. This can make a second mortgage an attractive way to meet life expenses.
When Should I Consider a Second Mortgage?
People often turn to second mortgages when they're faced with major financial hurdles, such as emergency home repairs, debt consolidation or tuition costs. In these situations, a second mortgage can … (0 comments)

 
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