Home Equity Loans: How to Borrow Safely: "As home values rise in many markets, Americans are increasingly tapping the equity in their houses to borrow money using either a home equity loan or a line of credit. The equity refers to the difference between what you owe on a house and its current market value. For instance, if you owe $100,000 on your mortgage but your home is worth $150,000, your equity is $50,000."
Tuesday, August 16, 2005
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