Home equity loans are an increasingly popular way
to raise cash. Find out what the risks and rewards are.
Your home is your castle -- and sometimes it's also
your bank. The equity in your home -- the current appraised value
minus the amount owed on the house -- can be tapped through loans
at lower interest rates than credit cards. This chapter defines the
types of home equity debt and the pitfalls of each. We also look at
the tax advantage and low interest rates that make them such a popular
option for borrowing.
