Things You Need To Know About Home Equity Taking advantage of existing equity in your home through an equity loan might seem an intelligent choice, especially in times of low interest rates. However, before you take a home equity loan to pay for children's education, buy a car or just pay off credit cards, you should educate yourself about the risks associated with this type of finance, and whether it can work for youIn essence, a home equity loan uses the current equity you have in your home as collateral for a second mortgage. The more equity you have, the more you can borrow Charlotte Olympia Thanksgiving. As with all finance provided against security such as property, if you do not maintain your payments, you run the risk of foreclosure on your home. This fact comes as sobering news for many, so you must consider your ability to repay the loan before you borrow against the equity in your home huanghaiyan701 ... Read more »