Home Equity Loans - More Information
Other ways to borrow money...
you do not want to put your home on the line to borrow money, there
Consider loans for specific purposes such as tuition loans and
car loans. Personal loans, and unsecured lines of credit as well
as credit cards can also provide you with cash. Some lenders have
personal loans for homeowners which are not secured by your home.
These types of loans will generally have a higher interest rate
than a home equity loan and will not qualify for a tax deduction
but your home is not on the line.
Under certain very special circumstances, you may also consider
borrowing from a 401(k) or another retirement plan instead of
tapping into the equity you have in your home.