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How to Plan for Retirement
How to File for Social Security
How to File for Social Security Disability
How to Plan for Retirement When You're Self-Employed
How to Retire a Millionaire by Age 45
How to Retire a Millionaire by Age 68
How to Determine a Simple IRA Contribution Amount
What Is an IRA CD?
Ways to Make Money on the Side
What Is a Bank Transit Number?
What Is Considered as Good Credit?
How Does an Individual Retirement Account Work?
How Does Social Security Work?
How to Invest in a Roth IRA
About Home Equity Loan Rules
About Home Equity Loan Terms
About Home Equity Loan Payments
About Home Equity Loan Pitfalls
About Fixed Home Equity Loans
Best Ways to Save for Retirement
Understanding Credit Report Scores
Understanding Your Credit Score
What Are Federal Tax Returns?
What Are No-Interest Credit Card Balance Transfers?
What Happens If I Default on Credit Cards?
What Is APR for Credit Cards?
What Is Cash Flow Business Valuation?
What Is the Best Way to Consolidate Bills?
Why Are Internal Controls Important?
Will My Credit Card Work in Europe?
Home equity loans are secondary loans made to the principle mortgage on a house. Understand how home equit… More
Equity is basically the amount of a home that is not leveraged by a mortgage. Learn about the differences … More
Using home equity, which is calculated by the value minus the mortgage balance, can be done by applying fo… More
Home equity security is essentially based on the principle that more equity means more security. Find out … More
Interest rates for home equity lines are varied based on the value of the overall home and how much is bei… More
Pitfalls of home equity loans include working with a disreputable banker, paying exorbitant fees and payin… More
Home equity loans are any money real estate has accrued over the time you have owned the property. So how… More
A home equity loan is generally a fixed rate loan, while the HELOC, or Home Equity Line of Credit, is like… More
Home equity loans allow you to borrow money by using your house or property as collateral. Because of the … More
Shopping for home equity loans is an important process for a homeowner. Differences in interest rates and … More
Fixed home equity loans are loans with a fixed rate of interest, as opposed to variable interest rate loan… More
Knowing how to build equity in your home can save money over the long run, as you'll pay less interest on … More
Home equity loans and mortgage payments are all considered tax deductible, which is why many home owners f… More
The most notable hidden cost associated with home equity loans is the origination fee, which is a point th… More
Summary: Pitfalls of home equity loans include working with a disreputable banker, paying exorbitant fees and paying high closing costs. Find a home equity loan that has no points and no origination fee with help from a registered financial consultant in this free video on home equity loans.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
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"This is financial adviser, Patrick Munro, talking about home equity loan pitfalls. You have to be aware of some of the potential dangers in the marketplace, or pitfalls, when you apply for a home equity loan. Most notably, you have to work with a banker, or a broker, that has a good reputation. Always make sure that you check their reputation out with the Better Business Bureau, and also with the Mortgage Bankers Association as well. Many of these resources are available online, and, this way you're working with a certifiable individual that has your best interests at heart. Make sure you don't pay an exorbitant, up-front fee. This is another pitfall that many people, when faced with mortgage refinancing, will fall in to. There are various junk fees that go along with this, and you don't want to get involved in those, either. It's all about closing costs. That's the word that you should always look at. A closing cost should be well within your budget. Many times there should be no points and no origination fee. These are some of the pitfalls when it comes to home equity loans. This is financial adviser, Patrick Munro."
eHow Article: About Home Equity Loan Pitfalls
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