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Why Should You Have a Home Equity Line of Credit?

walter — Wed, 07 Sep 2011 14:24:56 +0000

For homeowners, tapping into their home equity has long been a popular way to get the money they need. Proceeds from home equity loans are often used to consolidate bills, make repairs, take care of emergency expenses or help pay for a child’s college education. The only catch is that the loan is secured by your home, so if you fail to repay it, the bank can foreclose. But many homeowners do not realize that there’s another option for accessing their equity: the home equity line of credit, or HELOC for short. A HELOC offers all of the benefits of...

Co-Signing Loans

admin — Tue, 21 Jul 2009 15:18:19 +0000

For those with flawed or non-existent credit records, it can be quite difficult to borrow money. In many cases, the only way for them to do so is to obtain a co-signer. This allows the lender the opportunity to collect from someone with a better credit record if the borrower defaults. If you have good credit, you may be asked to co-sign for a loan at some point. Perhaps your child needs to borrow money to buy her own car but has never had any credit in her name. Or maybe your cousin is recently divorced and needs to borrow money...