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The hazards of some home-equity loans advertisement
What looks like an easy way out of debt could one day put your family
out on the street. Get the facts behind those enticing ads for 125%
home-equity loans before you put your home on the line.
By Terry Savage
What looks like a great deal, but could turn out to be the most
devastating financial decision of your life?
It's when you consolidate credit-card debt by taking out home-equity
loans for more than the value of your house, sometimes for up to 125%
of the home's value. Unlike traditional home-equity loans that rely on
the equity you've built up in your home, these loans aren't tax
deductible and usually carry higher interest rates.
Read more...
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