Banking on Your Home......Guide to Home Equity Loans

This book will help readers know how equity in the home can be used to get a loan. Home equity means present appraised value of the house less what is owed on the house. These loans usually help homeowners do home renovation work, meet education and medical expenses. It is a type of second mortgage which is paid off within a set amount of time. The repayment period is generally shorter than for a first mortgage, commonly of 15 years but can be shorter like 5 years or as long as 30 years. The book is a useful resource to decide when it will be wise to borrow against equity in the home and how to utilize the loan amount correctly.

Equity loans are quite useful if you have good equity in your home. The funds from the loan can be utilized for meeting important expenses. I have purchased the book and can say that people will definitely benefit from it.

A. Fogarty


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