Home Equity: How to Use It
Home Equity: How to Use It
What’s the difference between a second mortgage and a home-equity loan? What is a home-equity loan, and is it different from a home equity line of credit? And is a mortgage refinance similar to the above, or a different animal altogether? Let's take a look at all the various ways you can use your home equity – without fear of losing your home or getting taken for a ride.
First of all, a second mortgage and home equity loan are basically the same thing. These term…
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