home equity loan

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Related to Home equity loans: Home Equity Line of Credit
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.home equity loan - a loan secured by equity value in the borrower's home
consumer credit - a line of credit extended for personal or household use
loan - the temporary provision of money (usually at interest)
References in periodicals archive ?
The biggest "pro" favoring a home equity loan is also the biggest "con" associated with a refinance loan: Home equity loans have no closing costs, and that can mean a savings of hundreds - even thousands - of dollars compared to a cash-out refinance loan, which typically comes with all the same closing costs as a purchase mortgage.
According to Moody's Investor Services, banks could face losses from home equity loans.
PRINCETON, NJ -- The dollar amount of home equity loans and lines increased at a 14.
An expert loan consultant, Pete Hitesman has personally originated more than a thousand home equity loans and credit lines.
The committee agreed to permit existing fully secured mortgage loans and fully secured home equity loans on a member's primary residence to remain in effect.
In an earlier, we discussed the prevalence and use of home equity loans as another means of converting home equity to liquid form.
Although consumer debt is at an all-time end, it will not necessarily act as restriction on future economic growth; factors such as demographics, convenience use of credit cards, deregulation of the financial services industry, and a new avenue of consumer credit - home equity loans - must be considered.
It is important that you understand the differences between the two types of home equity loans so you will know which one is better for your situation.
Namely, while both cash out refinance and home equity loans can help home owners tap into their home's equity, they differ in the way they "attach" themselves to the home's property.
Home equity loans require immediate monthly payments to the lender.
Growing equity in homes, aggressive promotions by financial institutions, and a revised tax code, which retains the deduction for interest on real-estate-secured debt but not on other consumer borrowing, all appear to have contributed to the increasing use of home equity loans.
com seeking first mortgages, home equity loans and home equity lines of credit.

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