PDF Ebook Home Equity Lines of Credit
If you are in the market for credit, a home equity plan is one of several options that might be right for you. Before making a decision, however, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risks. And remember, failure to repay the amounts you’ve borrowed, plus interest, could mean the loss of your home.
A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because a home often is a consumer’s most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses.
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Home Equity Plan Checklist
What is a home equity line of credit?
What should you look for when shopping for a plan?
Costs of establishing and maintaining a home equity line
How will you repay your home equity plan?
Lines of credit vs. traditional second mortgage loans
What if the lender freezes or reduces your line of credit?
Glossary
Where to go for help
More resources and ordering information
Print orders
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