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Mortgage Professor about home equity line of credit: | |||||||||||||||||||||||
Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more... Which Reverse Mortgage Plan Do I Choose? April 8, 2003 ?I am 79. The counselor I saw in connection with my reverse mortgage told me that Fannie Mae?s Home Keeper product would provide me with more money than FHA?s Home Equity Conversion Mortgage, but that Home Keeper would cost me more. The decision was mine ... more... |
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home equity line of credit related definitions |
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Home Equity Loan
Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more... Second Mortgage, Home Equity Loan Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more... |
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More about home equity line of credit Why Every Homeowner Needs A Home Equity Line Of Credit 10 Things to Look for in a Home-Equity Line of Credit 5 Tips for Savvy Use of Your Home Equity Line of Credit Decision Time: Home Equity Loan or Home Equity Line of Credit? Open the Cash Vault Inside Your Home 5 Ways to Use Your Home Equity Line of Credit A Quick Look at Home Equity Line of Credit Bad Credit? With Poor Credit You Can Still Refinance Or Get A Home Equity Line Of Credit Types of Home Equity Loans Home Equity Line of Credit Loans
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