4 Ways Home Equity Loans Can Sink Your Finances
Remember the real estate boom-and-bust that left many homeowners in foreclosure? Whew, glad that’s behind us, right?
If you’re like some homeowners, you’ve greeted the U.S. economic upturn by seeking out a home equity loan — basically, a type of second mortgage, but not to be confused with a home equity line of credit, or HELOC. What’s not to like about a lump sum of cash, right?
Well, one thing could be that you’re unwittingly setting yourself up to fail and, yes, face foreclosure. Still, hom