Home Equity Loan Articles

Home Equity Loan or HELOC?
There are two methods of borrowing against the equity in a property: securing a home equity loan(HEL) and opening a home equity line of credit(HELOC). . These loan transactions are referred to as second mortgages, as they give you access to additional funds by utilizing...

Home Equity Loan after Bankruptcy
Borrowers who've filed for bankruptcy may not entirely be disqualified from receiving a home equity loan. Quite the opposite, taking out a home equity loan after bankruptcy is one of the most sensible decisions to make in recovering from bankruptcy. . For borrowers...

How Can I Avoid The Home Equity Trap?
For Americans nearing retirement: Do you stick to your original plan of selling your home and living off the profit despite the increased capital gains tax will consume a significant portion of the profit? . Factor in the new 3.8 percent Medicare tax, and suddenly the...

What is a Home Equity Loan?
A home equity loan, also called a second mortgage, is an attractive option for homeowners who've paid off a portion of their mortgage and want to borrow against the equity that has already accumulated.. What is a home equity loan? When you make your mortgage payment,...

What is Private Mortgage Insurance (PMI) ?
Home buyers who put less than 20% down, and are not utilizing a government insured loan program (such as FHA & VA), must obtain private mortgage insurance (PMI). . PMI is a set of premiums that protect lenders from losing money as a result of borrower default. While...

What is a Reverse Mortgage?

What is Private Mortgage Insurance (PMI) ?

How Do I Get a Second Mortgage With Bad Credit?
A second mortgage is a type of loan that is secured against the same assets as the first mortgage (e.g. your house). However, it's based on the equity accumulated within the property.  . Though difficult to qualify for a mortgage with bad credit, a second...