Are You Being Offered A Home Equity Loan That Sounds Too Good To Be True?
Written by: barry mcdonald
Have you received a home equity offer that seems too good to be
true. Chances are it probably is. When looking at any type of
large loan especially one secured on your home, care needs to be
taken. Beware of any loans being offered by mail, phone or to
your door by someone you've never contacted or by a company
you've never heard of before. Some abusive lenders prey on low
income or elderly homeowners in need of raising some cash.
Beware also of contractor's offering to do home improvements for
you and organizing your loan for you. You could end up with a
high cost equity loan and could end up unable to make the
payments, and end up having to sell your home to escape your
If in doubt about where to go, ask some family and friends for
advice and recommendations. You may think that because of your
income and credit history that you wont qualify for a home
equity loan from a bank or credit union but also contact these
as they may just have a loan to suit you.
And lastly before you settle on any equity loan, shop around,
you could be paying this loan off for a number of years so take
your time and pick the right one that suits you and not the
New Home Construction Loans 101
When you are ready to build your first home or that dream home
that you have been wanting for so long you will probably wind up
needing help with the financial part of the building process.
The funding for your new home is available through new...read more
How to Qualify for a Home Mortgage Loan
Are you considering applying for a mortgage loan to purchase
your first home? If so, you should read the following tips below
that will make the process easier!
If You Have a Good Credit History It Is Easier To Qualify For