Despite what the media is saying mortgage lending has NOT come to a complete hault. There are still great loan programs available, some of which do not require a 20% down payment or equity position, and some which still allow credit scores well under 720. -FHA Cash out refinance to 95%. Equity line closed or frozen, still need cash for home improvements or college tuition. Want to consolidate high interest car loans and credit cards, and take advantage of tax deductible interest? As long as you have owned your home for at least 12 months you may be able to (10 comments)
home equity: Illinois Mortgage Lender asks ~~ Home equity vs HELOC whats the difference?
- 06/12/07 05:11 PM
Recently I have received a huge increase in the number of requests for home equity loans. Home equity loans are great for a number of reasons. With a home equity loan you can payoff current credit card debt, purchase a car, send a child to college, do home improvements, or just simply get a line of credit for emergency.
There are differences between a home equity loan and a home equity line of credit.
A home equity loan is a loan created by using the some or all of the equity in the home, creating a 2nd lien on the property. With (19 comments)
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Kim Murphy
Mortgage Loans in DuPage, Kane, Cook, Lake, Will C