Home equity loan

There are a number of different loan products available today, and the one that you select will depend upon your circumstance and budget as well as on the amount of cash that you need to borrow. If you are a homeowner and you’re looking to borrow a fairly substantial sum of money at a low rate of interest, you may find that a home equity loan will prove ideal for your needs. This type of loan can benefit you in a number of ways, and if you have the equity in your home you could get a really affordable loan.

The equity in your home is the market value of the property minus any outstanding mortgage or other loans secure upon it. The balance is the equity, and with these loans you can borrow against this equity. As property price have risen quite dramatically over recent years, many homeowners have found themselves sitting on quite a nest egg, giving them the leverage to borrow money against the property if the need arises.

A home equity loan basically allows homeowners to unlock the equity that is tied up in their property without having to sell up or move. The nature of these loans means that you can often borrow far more than you would be able to with an unsecured loan, and you can also borrow over longer periods of time, which can reduce the amount that you will pay each month. Also, because an equity loan us secured lenders can afford to offer lower interest rates, which can also help to reduce monthly repayments, enabling borrowers to take out a loan for a substantial sum at a really

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About the Author

Paul Heath is the author and owner of http://www.4a-loan.co.uk
For loans & finance please visit us http://www.4a-loan.co.uk

Laws protect consumers’ home-equity loans (Lawrence Journal-World)
An increase in consumer complaints over the cancellation or reduction of home equity lines of credit has prompted one federal banking regulator to remind financial institutions about the laws governing this type of loan.

Loan vs. credit (San Jose Mercury News)
Home equity line of credit or loan what s best for you?Life, as they say, is filled with difficult choices.

Regulators warn lenders on home equity loans (Houston Chronicle)
After a rash of consumer complaints, the federal agency charged with regulating savings and loan institutions issued guidance Tuesday warning lenders they could not arbitrarily change the terms of home equity loans.

Equity Residential Gets $550M Loan (Commercial Property News)
Chicago-based Equity Residential Inc. has closed on $550 million in financing, putting up 15 of its multi-family properties as collateral.

Feds warn thrifts about changing equity loan terms (Lexington Herald-Leader)
After a rash of consumer complaints, the federal agency charged with regulating savings and loan institutions issued guidance Tuesday warning lenders they could not arbitrarily change the terms of home equity loans. The Office of Thrift Supervision issued a six-page letter of guidance to the institutions, called thrifts, spelling out their obligations on home equity lines of credit, better ...

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