Home Equity
Lines/Loans
ADVANTAGES:
*Tax deduction
*Can Borrow up to 100% equity in home
*Rates lower than credit cards
*Can be used for debt consolidation, home
improvements, school tuition, etc.
DISADVANTAGES:
*2nd lien on home
*Higher interest rate than 1st mortgage
*Rate may fluctuate depending on equity line vs
equity loan |
