Home Equity Loan - Is It For You?

A Home equity loan has become an easy way to not only pay off other non-deductible debt, but to come up with large wads of cash for remodeling projects, vacations and more. People have financed college educations with a home equity loan, so your imagination is your only barrier. There are few if any restrictions on a home equity loan because in essence you're using your own money. With housing markets booming over the last several years, and no definitive end in sight, the higher prices we find attached to our homes has sent the equity soaring too. It's no longer necessary to gamble in the stock market if you're looking for large returns: just own a house, and then use a home equity loan to fund your particular needs.

A home equity loan can offer many attractive features, but there are a few things to be keep in mind. Be aware that in an inflated market, your home's value could at some point take a dive and you find yourself in a situation where your loan exceeds your home's worth, particularly if you've taken advantage of one of the 100-125% offers you see so often these days. Just be aware that it is never a good idea to use all your appraised equity unless absolutely necessary. Also, try and go with the home equity loan that costs the least. If you're going to tack on several thousand dollars in fees, then it could really not be worth it. People sometimes get blinded by the prospect of easy cash, and pay these fees without thinking. Shop around. A home equity loan is part of an extremely competitive market, and if your credit is okay, or sometimes even not so okay, a direct lender can offer a home equity loan with few if any costs. Typically, mortgage brokers are unable to do this.

A home equity loan can be your ticket to not only changing non-deductible debt to deductible, but an easy source of available cash to help start a business, finance a vacation, remodel or more. Check out a home equity loan today!

Keith Thompson is a real estate investor and webmaster of Mortgage Loans Today where you can find the latest news and resources on a Home Equity Loan

In The News:
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.boston.com/business/articles/2008/10/13/white_house_scrambles_to_get_rescue_plan_moving/cid=1256952153ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFDn64yaBT4sZ26aELznqayBvGRnQimg src=http://news.google.com/news?imgefp=VhHOF8i9KiQJimgurl=cache.boston.com/resize/bonzai-fba/AP_Photo/2008/10/13/1223927728_8670/539w.jpg width=80 height=54 alt= border=1brfont size=-2Boston Globe/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://money.cnn.com/2008/10/13/news/economy/treasury_plan/%3Fpostversion%3D2008101311cid=1256952153ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNGK0UmW4_wmSEO0-SXjfImRsHbHkQWhat Treasury is planning/abrfont size=-1font color=#6f6f6fCNNMoney.comnbsp;-/font nobr18 hours ago/nobr/fontbrfont size=-1b.../b for the government to brefinance/b the whole loans it purchases. But most mortgages are broken up into thousands of pieces - the bmortgage/b-backed securities b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DqaJ456CNCy0cid=1256952153ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNGTpLjMHWjHEJz1z0IbjMagDo9v1AVideo: Paulson Says Global Markets Remain Strained/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/qaJ456CNCy0/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/qaJ456CNCy0type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://tothecenter.com/news.php%3Freadmore%3D7316cid=1256952153ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNHMqkuC6bgI_3n-w-bifa4v7eU-kQThe Bailout Plan in Plain English/a font size=-1 color=#6f6f6fnobrToTheCenter.com/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1256952153hl=ennobrall 1,674 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5g9k5ci5oSKGrWzjygJuIimhNkUogD93PQTQO1cid=1257390724ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFsd1VDDG_w8saeZ-JxAGVY0k28ogimg src=http://news.google.com/news?imgefp=rg91VCFAogIJimgurl=ap.google.com/media/ALeqM5gpX63yahj3YRzCM06eIA-R42iyEA width=80 height=53 alt= border=1brfont size=-2The Associated Press/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5g9k5ci5oSKGrWzjygJuIimhNkUogD93PQTQO1cid=1257390724ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFsd1VDDG_w8saeZ-JxAGVY0k28ogOfficials: Financial crisis can lead to violence/abrfont size=-1font color=#6f6f6fThe Associated Pressnbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1She tried to brefinance/b but was declined. In July, on the day the house was to be auctioned, she faxed the note to the bmortgage/b company. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.killerstartups.com/Web20/freehomerefi-com-mortgage-refinancing-resourcescid=0ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNEEMoyzPeOdh45xafTJyfCozz1qeAimg src=http://news.google.com/news?imgefp=zNlM1I2xSEIJimgurl=www.killerstartups.com/graficos/killer-data1.jpg width=80 height=29 alt= border=1brfont size=-2Killer Startups/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.killerstartups.com/Web20/freehomerefi-com-mortgage-refinancing-resourcescid=0ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNEEMoyzPeOdh45xafTJyfCozz1qeAFreeHomeRefi.com - bMortgage Refinancing/b Resources/abrfont size=-1font color=#6f6f6fKiller Startups,nbsp;FLnbsp;-/font nobrOct 10, 2008/nobr/fontbrfont size=-1It is a handful resource for people who want to have their bmortgage refinancing/b done in a simple way. “Free Home Refi is committed to providing consumers b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chicagotribune.com/business/chi-upside-down-mortgage-monoct13,0,2329863.storycid=1257260377ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNH1nykOy0voBX-n1c98wbL9K7dLqAbMortgage/b crisis has turned homeownership upside down/abrfont size=-1font color=#6f6f6fChicago Tribune,nbsp;United Statesnbsp;-/font nobr21 hours ago/nobr/fontbrfont size=-1quot;If you have some kind of disruption to your income and you can#39;t make your bmortgage/b payment, it#39;s going to be very hard for you to brefinance/b or anything b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://sify.com/finance/fullstory.php%3Fid%3D14772811cid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFVJekU9mMUzuVQxWV96bGiQPM8rwimg src=http://news.google.com/news?imgefp=4zc7cQtrRSgJimgurl=im.sify.com/sifycmsimg/oct2008/Finance/14771912_executives_200.jpg width=80 height=62 alt= border=1brfont size=-2Sify/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theglobeandmail.com/servlet/story/LAC.20081013.RBANKSEXPLAINER13/TPStory/Businesscid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNHGSPYb1iheHc3uhAb0LQW78st_fgFrom subprime to stock swoon/abrfont size=-1font color=#6f6f6fGlobe and Mail,nbsp;Canadanbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Borrowers were led to believe that they would be able to brefinance/b their homes at this point because the value of the property would have increased. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100149.htmlcid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNGYU7DTAlxBoTYjZGpXJC1BqtZYRwARM Holders Would Do Well to Shop Around Now/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.istockanalyst.com/article/viewiStockNews%2Barticleid_2699695.htmlcid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNHAZIsrE8ymITC0uya-0vyQ-SlmoQEDITORIAL: Let Bailout Money Trickle Up, Not Down/a font size=-1 color=#6f6f6fnobristockAnalyst.com (press release)/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.zwire.com/site/news.cfm%3Fnewsid%3D20161858%26BRD%3D1675%26PAG%3D461%26dept_id%3D18168%26rfi%3D6cid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFrEgZNhxOxjYuJSopTed4GPzbYmwLetter: Economic trauma can#39;t be excused/a font size=-1 color=#6f6f6fnobrThe Delaware County Times/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.tallahassee.com/article/20081008/OPINION05/810080303/1006/OPINIONcid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNE8CKr2UpiLFi-_UOfMi4VFNKB7nAnobrTallahassee Democrat/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.twincities.com/ci_10650793%3Fsource%3Dmost_emailedcid=1255977840ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNHG2MsYQ4V59qUC0MVC2Dzt3_SwhAnobrPioneer Press/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255977840hl=ennobrall 244 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sbwire.com/news/view/22363cid=0ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFUDq0Sh74Y6SprT7CHSiZjxvBbQQThe Truth About bMortgage Refinancing/b Revealed By Oregon bMortgage/b b.../b/abrfont size=-1font color=#6f6f6fSBWire (press release),nbsp;WInbsp;-/font nobrOct 8, 2008/nobr/fontbrfont size=-1The site is designed to give Oregon residents all the facts about bmortgage refinancing/b so they can make an educated decision when obtaining a bmortgage/b. b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/printedition/longisland/ny-livoice135881819oct13,0,6929750.storycid=1257173810ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFvYjsL4MvEGaXu1z2M-meQDDLjngFreeport family battered by struggling economy/abrfont size=-1font color=#6f6f6fNewsday,nbsp;NYnbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Joan Fennell said her bmortgage/b broker quot;promisedquot; verbally she could brefinance/b again within the year into a fixed-rate loan and she assumed she#39;d earn enough b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601070%26sid%3DagoIVK3xOols%26refer%3Dhomecid=1257615421ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNEi9WONh-5DRC2NcLWh9IPPCpv6ngMcCain, Obama Promoting Populist Appeals on Wall Street Rescue/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1The Democrat is focused on recapitalizing banks while halting foreclosures and creating new jobs, while the Republican wants to purchase and brefinance/b b.../b/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.brisbanetimes.com.au/news/world/mccain-proposes-300b-mortgage-buyout/2008/10/08/1223145420040.htmlcid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNH0ZWyk-hKkmr_gE-tfQub3wwXVkgimg src=http://news.google.com/news?imgefp=jcJP5nTES5oJimgurl=www.brisbanetimes.com.au/ffximage/2008/10/08/mccain_wideweb__470x303,0.jpg width=80 height=52 alt= border=1brfont size=-2Brisbane Times/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sfgate.com/cgi-bin/article.cgi%3Ff%3D/c/a/2008/10/09/BU9B13DNI7.DTLcid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNFCglz02CjaVY6qK6gg8EP9vT69eAMcCain campaign outlines bmortgage/b-rescue plan/abrfont size=-1font color=#6f6f6fSan Francisco Chronicle,nbsp; USAnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1Barack Obama, McCain#39;s Democratic rival, has proposed helping troubled homeowners brefinance/b their mortgages, but his campaign attacked McCain#39;s proposal for b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DBAdIBCGcEo8cid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNElyyaW6FBMK7QOxNkrarbSwDRT0wVideo: Obama: #39;Taxpayers Shouldn#39;t Pick Up Tab#39;/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/BAdIBCGcEo8/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/BAdIBCGcEo8type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/09/us/politics/09mortgage.html%3Fref%3Dbusinesscid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNEK2erjFkM6cu5mXe8ozjVwMUqBIQTaxpayers, Not Lenders, Would Bear Costs of McCain’s bMortgage/b Proposal/a font size=-1 color=#6f6f6fnobrNew York Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/deals/2008/10/08/mccains-300-billion-mortgage-plan-better-than-the-700-billion-rescue/%3Fmod%3Dgooglenews_wsjcid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNGyaln7fILBdYL5u4-uWyRcXFhOLQMcCain’s $300 Billion bMortgage/b Plan: Better Than the $700 Billion b.../b/a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/nationworld/nation/ny-usmort095875394oct09,0,1162571.storycid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNExb-lRKgszPFEibEN86Z6GmnnoIQnobrNewsday/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www2.journalnow.com/content/2008/oct/11/principal-is-key-to-housing-solution/cid=1255319735ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNEIpAbmjuXiZ1_cVd97HanlXDoK8gnobrWinston-Salem Journal/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255319735hl=ennobrall 816 news articles/nobr/a/font/div/font/td/tr/table
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.prweb.com/releases/2008/10/prweb1468384.htmcid=1257614373ei=QG70SJWsH43W6gP7-cWSDQusg=AFQjCNG0BsPZ3ObggYcbSWx91K9Gji94oAFHA Loan Adviser Connects Lenders with Homeowners/abrfont size=-1font color=#6f6f6fPR Web (press release),nbsp;WAnbsp;-/font nobr55 minutes ago/nobr/fontbrfont size=-1Under the new program, certain borrowers will be eligible to brefinance/b into an affordable FHA-insured bMortgage/b. FHA will insure up to $300 billion in new b.../b/font/div/font/td/tr/table
mortgage refinance - Google News


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