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View Full Version : Is borrowing equity against your house a wise choice?



Derrick
09-28-2011, 12:44 AM
Is borrowing equity against your house a wise choice? What do you think about borrowing against a home mortgage and using this as credit? Will this get home-owners in trouble or is it a good way to make use of credit? Looking forward to your reply.

creditcard1
12-24-2013, 07:50 AM
Home equity loans let you borrow using the equity you've built up in your home as collateral. You can often borrow more money at a lower interest rate than with other types of loans. And, in many cases, you can deduct the interest you pay on the loan when you file your tax return, reducing the actual cost of borrowing still further.