Financial Literacy, month 5: Dealing wisely with home equity

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Financial Literacy - Home equity

TABLE OF CONTENTS

Dealing wisely with home equity

Home equity is often the largest asset a homeowner has. Financial success depends on knowing how to use it wisely.



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PART 5:	Dealing wisely with home equity

As your home grows in value and your loan principal slowly shrinks, your home builds equity. Treat it with respect.

Financial value of home equity

•	Trends in home equity
•	Types of home equity loans
•	Other ways to tap equity

Take action: When to hold, when to tap

•	Hurdles facing new borrowers
•	4 steps for getting a loan
•	Pluses & pitfalls of tapping equity
•	FAQ on home equity uses
•	Making home equity work for you
•	Understanding cash-out refinancing
•	5 bad equity-borrowing moves

Spotlight

•	Barbara Corcoran's line of credit
•	Dave Ramsey on home equity loans
•	Richard F. DeMong on home equity

Poll

•	Homeowners & their home equity
•	Poll: How do you value home equity?

Money Makeover

•	The problem: Upside down in home
•	The plan: Strategically create equity

Tools & resources

•	Tools and resources

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