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Home equity loans: The basics
 Using
the roof over one's head as collateral for sizable amounts of credit
has become an extremely popular and efficient way to borrow. Equity
is the difference between your home's appraised -- or fair market
-- value and your outstanding mortgage balance. If you have equity
in your home, borrowing against it might be a very effective way
to get some things you need at a good price.
This guide will help you understand the ins and outs
of home equity borrowing, the opportunities and the consequences.
-- Updated: Nov. 24, 2003
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