How I Used My Home Equity to Pay Off My Credit Card Debt (Image credit: PM Images/Getty Images) Share Email 23 Two years ago, I got divorced. Because I needed cash to pay my lawyer, I put my everyday expenses on a credit card. Before I knew it, between what I charged and the high … Continue reading Refi, Home Equity Loan or HELOC to pay down debt?
From Credit.com 6/4/15 Millions of consumers will have to absorb a major hit to their household budget in the coming months. About $265 billion in home equity lines of credit (HELOCs) will enter the repayment period in the next few years, according to a study from Experian, and consumers may see their monthly payments spike … Continue reading The $265 Billion Wave That’s About to Crush Homeowners
From LA Times 11/30/14 Homeowners’ equity holdings nationwide are up sharply and interest rates are near historical lows, leading to more home equity borrowing. Above, homes in Mission Viejo. (Mark Boster / Los Angeles Times) If you're thinking about taking out a home equity line, you're hardly alone. Credit lines tied to home equity — … Continue reading More owners tapping home equity lines of credit
Significant Amount HELOC Balances May Be at a High Risk of Default From DSNews.com 8/11/14 A recently released study by TransUnion Corp. reported that approximately $50 billion to $79 billion in outstanding Home Equity Lines of Credit (HELOC) balances reported at the end of 2013 could be at a high risk of default in the … Continue reading Watch Your HELOCs