Large, unexpected expenses like procedures not covered by medical insurance or home repairs can leave consumers in a cash crunch. But if you are a homeowner and  have equity in your home, a home equity loan may be just the trick to help you get back on your feet.  But when you talk to a home equity lender, you’ll learn that there are really two types of equity loans: a home equity loan and a home equity line of credit. (more…)

If you own your home and are in need of some extra cash, why not consider a home equity loan? If you have equity in your home, difference between your home’s appraised value and any outstanding mortgage debt, a home equity lender will grant you a loan using this equity as collateral. While you can use this money for anything you wish, most homeowners use their equity loans for new car purchases, home remodeling projects, etc – large one-time expenses. (more…)

Just about any financial planner would recommend that a person keep some money stashed for emergency expenses.  Otherwise, how else would you pay for a large, unexpected expense such as a leaky roof, a totaled car, job loss, etc.?  If you have money set aside, you don’t have to be stressed out at the time of need. (more…)