U.S. homeowners are sitting on roughly $34.5 trillion in home equity right now. That’s a record. And with mortgage rates still holding above 6%, almost nobody wants to give up a 3% rate they locked in a few years ago just to pull out cash. So homeowners are turning to home equity products instead — borrowing against… Read more »
Many homeowners are using their home’s equity to secure a home equity line of credit. A HELOC is typically a second mortgage with interest only payments and low rates compared to credit cards or unsecured debts. Don’t miss out on these top 10 uses for HELOCs. 1. A HELOC can help you consolidate your debt… Read more »
If you have a major financial need looming over you that you’re just not sure how you’ll afford, you may want to consider taking out a second mortgage. Keep in mind, there are some pros and cons that come along with doing that, so let’s look at the options and you can decide whether this… Read more »
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