What’s the difference between a Home Equity Loan, HELOC, and Credit Cards

A Home Equity Loan and a Home Equity Line of Credit (HELOC) are not the same thing. In general, a home equity loan is a better financial tool for most consumers. Both are ways to finance large expenses by borrowing against the equity in your home minus closing costs. Equity is the difference between what

Read More »

Compare Your Home Equity Borrowing Options

Your home equity is the difference between what you owe on your mortgage(s) and what your home is currently worth if you sold it today (the appraised value). For instance, if the remaining balance on your mortgage is $195,000 and the market value is $295,000, you have $100,000 of equity in your home. Your equity

Read More »

What Are Home Equity Loans Used For?

Our homes are more than special structures for raising children and sheltering families. Apart from providing shelter and security to its occupant, it can also serve several other purposes. Homes can be an asset that can be passed on to heirs and dependents. It can also function as an investment that can be sold in

Read More »

Ask Brian: What Should I Do When Selling My Home with Little Equity?

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to [email protected] Question from Gil in OK: Hello Brian. I’m in big trouble. Right now, I’m more than a month behind on my mortgage

Read More »

Thinking of Accessing Your Home Equity? Things You Should Know

Before the recession, many people were able to tap into their home equity but all this changed during the last few years. However now house prices are recovering, more people have regained access to this source of funding that can help pay for renovations or big-ticket items, or to simply reduce debt. According to an

Read More »

How to Pay For Your Home Improvement Project?

Home improvement projects are always fun and refreshing for everyone but your pocket. Many people undertake a home improvement project and then give up on it midway because they don’t find good financing alternatives. Some don’t even think about it because of the same reason.

Argument Over Eliminating Mortgage Interest Deduction Heating Up

With the federal budget deficit at the top of the congressional agenda, Congress has been making noises about eliminating the Mortgage Interest Deduction,(MID). Some economists who are in favor of eliminating the deduction say it could add some 470 billion dollars to federal government coffers, and would make a significant contribution to deficit reduction, while

Read More »

RealtyBizNews: Real Estate Marketing & Beyond