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Home Equity Basics

Chapter 4: Watch out!

Tapping your home's equity can be risky. Understand all the details before closing on a loan.

Dealing with fraud

By Bankrate.com

Anyone victimized by fraudulent lenders or contractors should:

•	Contact an attorney immediately.
•	File a complaint with the Federal Trade Commission's Consumer Response Center. The FTC cannot resolve individual complaints, but it can take action against a company if a pattern of violations is found.
•	Contact the FTC via the Internet; by calling toll-free: (877) FTC-HELP (382-4357); TDD (for hearing impaired) (202) 326-2502; or by writing: Consumer Response Center at Federal Trade Commission, 600 Pennsylvania Ave. NW, Washington, DC 20580.

-- Updated: April 1, 2006

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		Interest Rate Roundup

TABLE OF CONTENTS

Ch 1: What equity debt is

Ch 2: Decisions, decisions

Ch 4: Watch out!

	•	Balloon loan pitfalls
	•	Risks of high LTV loans
	•	Scam artists
	•	Rights of rescission
	•	Dealing with fraud
	•	Chapter 4 quiz

Home Equity

Compare today's rates

NATIONAL OVERNIGHT AVERAGES

$30K HELOC	5.20%
$50K HELOC	4.93%
$30K Home equity loan	8.33%

Rates may include points

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