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What Is the Difference Between a Home Equity Loan and a Personal Loan? A home equity loan and a personal loan both offer one-time, lump-sum payments that are required to be paid back in installments over an agreed-upon period of time. However, the main difference is that home equity loans […]
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A home is usually a valuable asset, and its prices tend to rise over time. Once you’ve built up a decent amount of home equity, your ownership stake can be used to get a nice big cash injection to spend on whatever you want. This privilege does come at a cost, […]
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A home equity loan—also known as an equity loan, home equity installment loan, or second mortgage—is a type of consumer debt. Home equity loans allow homeowners to borrow against the equity in their homes. This type of loan is relatively easy to arrange, because it is a secured debt. When […]
BUYING a home is one of the biggest purchases you can make. Saving money during the process is ideal and avoiding a risky loan will help. 1 Risky lending options most likely will result in foreclosures and low property values Most Americans typically use mortgages, a loan or agreement between […]
Millions of American home shoppers have taken on risky and generally more costly alternative financing, in part because even creditworthy buyers may have trouble finding traditional mortgages for lower-priced properties, new research suggests. One in 15 current home borrowers, or about seven million Americans, uses alternative financing, including arrangements in […]
A Markham, Ont., man is struggling to hold on to the home where he’s lived for 15 years after he signed on to a high-interest mortgage with a private lending company that is now pursuing him in court for not making payments. Mississauga-based Morex Capital initiated court proceedings earlier this […]