Question

 What is better, a second mortgage or a home equity loan?

Answer On One Hand: A Second Mortgage Is BetterA second mortgage is typically arranged at the closing of a first mortgage. It is either a line of credit or an installment loan. By taking out the second mo... Read More »
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Top Q&A For: What is better, a second mortgage or a home equ...

Is a home equity loan a mortgage?

A home equity loan is considered a second mortgage. Home equity represents the difference between what your house is worth and what you actually owe on your initial mortgage. With a $20,000 differe... Read More »
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What is the difference between a mortgage and a home equity loan?

Mortgages and home equity loans both use the value of your home to secure the loan. However, the functions of these loans differ.PurposeA mortgage is the original loan taken out to finance a home. ... Read More »
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What is the difference between a home equity loan&a home equity line of credit?

Home equity loans and home equity lines of credit are two ways to borrow against the value of your home. Though they both use your home as collateral, they differ in a number of ways.Accessing Fund... Read More »
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If You Have a Home Equity Loan, Do You Have to Pay Off the Loan Before You Sell Your House?

A home equity loan utilizes the equity you have built in your home as collateral for a new debt. Typically, this debt goes toward improvements to the property, but it may also be used to purchase c... Read More »
http://www.ehow.com/about_7337035_home-loan-before-sell-house_.html


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