Jul 18

Home equity loans can be among the least costly loans to acquire. After all, they are backed by the equity of a home. Some may even refinance to lower their mortgage to cut their monthly costs maximizing the benefits they can get from a home equity loan. In particular, they might opt for a home equity loan because they wish to consolidate some of their unwanted debt. Well, no debt is really wanted. Debt that comes with high interest rates may be the least desirable. Moving such debt to a home equity loan with a much lower interest rate is a far better strategy.

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