Additional Financial Resources
Home Equity Loans and Lines of Credit
Advantages:
- * Monthly payments may be lower.
- * You keep control of you finances.
- * You may find that you can get very low fixed interest rates.
- * A convenient source of credit.
- * The loan may be tax-deductible.
Disadvantages:
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* Home equity loans are secure. If you fall behind on your payment you risk losing your home.
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* These loans can be complicated. There may be various fees and interest rates can fluctuate depending on the loan. Make sure you carefully read and understand the term of the loan.
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* Watch out for lenders who prey on financially desperate consumers. Be aware of scams that include balloon payments and equity stripping.
For more information or questions please feel free to contact our Financial Resources Group at 1-800-435-1945.
Self-Help Booklets
| Avoiding Foreclosure | |
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This publication is for those who are having trouble keeping up with their mortgage. This booklet provides strategies for getting back on track and becoming current with a mortgage. The thought of losing one's home may be so overwhelming that many people try to avoid thinking about it, but that's never the best approach. This publication is designed to help consumers figure out the best course of action to save their homes. |
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Related News
- 12/07/2011 - Are low credit scores hurting the housing recovery?
- 03/29/2011 - New York group seeks funds to fight foreclosure
- 03/03/2011 - Massachusetts foreclosures see big yearly decline
