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4 ways to cash out your house

Looking to your house for cash?
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Looking to your house for cash?

A family home or other personal residence is a major source of wealth for many seniors. But those who are, as the saying goes, house rich and cash poor may wonder how they can tap some of that wealth, aka home equity, so they can use it for other financial needs. Read on for four ways to get cash from a house.


 

 

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Overnight Averages
Product Rate +/- Last week
30 yr fixed mtg
3.94% 4.03%
15 yr fixed mtg
3.07% 3.18%
5/1 ARM
2.82% 2.79%
View rates in your area:
Product Rate +/- Last week
$30K HELOC
4.97% 4.99%
$30K home equity loan
6.16% 6.19%
$50K HELOC
4.52% 4.54%
View rates in your area:
Product Rate +/- Last week
48 month used car loan
2.70% 2.70%
48 month new car loan
2.51% 2.58%
36 month used car loan
2.77% 2.76%
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Product Yield +/- Last week
6 month CD
0.41% 0.45%
1 yr CD
0.62% 0.67%
5 yr CD
1.23% 1.24%
Compare rates:
Product Rate
Balance Transfer Cards 15.99%
Cash Back Cards 16.34%
Low Interest Cards 10.93%
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Most people nix the idea of sharing estate planning details with their adult children, but telling the kids some key facts could b
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