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Your Home Equity Line of Credit is the right choice for
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A Guide to Home Loans. Learn which type of olnine loan is
right for you and how to make it happen. ... refinance loan,
a home equity loan, a home equity line of credit, a debt
consolidation loan and even a bad credit loan. Use this
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Calculate the lowest mortgage and loan rates. Learn your
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Borrower's Guide to Home Loans. Introduction. Before you
borrow money on your home's equity, think twice so ... cautious
about using a home equity loan to consolidate credit card
debts. ... Before you borrow money on your home's
equity, think twice so you don't end up paying more than
you expected. As part of AARP's Campaign Against Predatory
Home Lending, AARP prepared this Borrower's Guide for
you. We don't want you to be the next person who says,
Sometimes a home equity loan is a good way to borrow money,
but there are some lenders that only bring problems.
Predatory
home mortgage lenders look for people who may have financial
difficulty. They hunt for people who may be behind on property
taxes, who need to fix up their home, or who need money
for medical bills. Once they find these people, the lenders
often use highpressure sales talk, high interest rates,
outrageous fees, and repayment terms that the person can't
afford. Fast talkers can trick homeowners into taking out
loans that they can't afford to pay back. When they can't
make the payments, their homes are at risk of foreclosure.
Even
if you don't have financial troubles, no one wants to pay
more than is needed. Why pay interest rates higher than
you need to? Why pay unneeded fees or charges? Whether you
have excellent credit or not-sogood credit, you want the
best possible loan you can get.
Don't
be fooled by loan offers you see on television or receive
in the mail. They don't tell the full story.
www.pueblo.gsa.gov/cic_text/housing/bad-loans/loan.htm
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