Advantages

1) Home equity loans are easier to get because of their secured nature and are particularly good for those with a tarnished credit rating or history.

2) Home equity loans offer far lower rates of interest than unsecured loans and credit cards, and this is because they are secured loans and therefore less of a risk to the lender. This contributes towards lower monthly repayment as well as less interest to pay overall on the total loan.

3) Home equity loans enable you to unlock the cash that is tied up in your property without having to actually sell your property.

4} Extended Repayment Schedules – You can often choose to hold onto a home equity loan for as long as you own your home.

These extended repayment schedules make the month to month management much easier.


Disadvantages

1} The biggest drawback of a home equity loan is the fact that your home is on the line and you could lose your home if you default on your payments.

2} When you borrow from your home's equity you also reduce the equity or ownership you have in your home. This means that you trade ownership or equity in your home for cash that you will use for some other purpose.

3) In addition to interest you will pay on the loan, there are also costs associated with taking out a home equity loan -these costs are similar to the costs you paid when you bought your home.


Cheers
Samantha
links removed.

Elina....with all due respect....

is this your blog?

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Jeff Hill
RE/MAX Property Source
6940 Villagreen View
Rockford, IL 61107
Direct 815-489-3401
Cell 815-315-2626
Rockford Real Estate
Rockford and Boone County Home Values

She has been banned, she was spamming many forums with this garbage.

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Webmasters who spend their energies upholding the spirit of the basic principles [Of Google] will provide a much better user experience and subsequently enjoy better ranking than those who spend their time looking for loopholes they can exploit. Google.com

And it's not even new garbage. Pretty old and rotted!

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Specializing in the Master Planned Communities of Las Vegas Real Estate including Summerlin Real Estate. Sometimes I blog about Las Vegas Real Estate...

Paul Francis, CRS
Coldwell Banker Premier
Henderson, NV 89052
702.592.3058

Great thread,

Home equity loans are typically used for consolidating consumer debt or covering a large expense such as a big wedding, college tuition, or home renovations. There are also several ways to repay a home equity loan. The most common option is to make regular payments toward both the interest and the principal. Many of us are looking for the best company that offers great deal in terms of mortgage loan. A mortgage is a legal and formal agreement between the borrower and a lender leaving certain collateral as assurance if you have failed to pay a certain payment from you loan. Mortgages are hard and aching matter for individual seeking for a loan. There are several types of mortgages which are out there in the market; supposedly catered to take care for the needs of everybody.

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