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Home
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The
LowerMyBills Insider's Guide to... |
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Home Equity Loans |
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Home Equity
Basics |
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Understanding the
basics of home equity is the first step to choosing the right loan for
your needs. |
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Shopping for Home Equity Loans?
Allow LowerMyBills to do the shopping for you!
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What Type of Loan is Right
for Me? |
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To choose the right loan, you'll need to
evaluate your own personal needs. |
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Consider the following scenarios: |
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Scenario 1:
Mary and Ted need $20,000 to pay for I their
daughter's wedding and $5,000 to send Mary's
mother on a cruise. Both expenses will occur
within the next two months. Mary and Ted know
exactly how much they need, they know that both
amounts must be paid in full in a short period
of time, and they know they have no future plans
to borrow. What is the right type of loan for
Mary and Ted? |
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A closed-end home equity loan would be the
best choice for Mary and Ted. |
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Scenario 2:
Samantha is planning on helping her son pay for
his college education. She will need to borrow
money at the beginning of each quarter over the
course of the next four years, but she is not
sure about the exact amount. What is the right
type of loan for Samantha? |
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A line of credit (HELOC)
will give Samantha the flexibility to borrow
what she needs, when she needs it. |
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Home Equity Loans for Debt
Consolidation |
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The most popular reason
for obtaining a Home Equity Loan is to consolidate credit card debt.
Since consolidation usually entails borrowing a fixed amount to payoff
higher interest debt, a closed-end loan usually works best for this
purpose. If you are borrowing relatively small amounts and plan on
paying the loan back quickly, a line of credit should cost less than a
closed-end loan. |
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Need a Home Equity Loan?
Allow LowerMyBills to do the shopping for you!
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DOWNLOAD A COPY OF THIS
GUIDE IN .PDF FORMAT |
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Sections Within this Guide |
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LowerMyBills in the Media |
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LowerMyBills, Inc. is not acting as a lender
or broker. The information provided by you to LowerMyBills is not an
application for a mortgage loan, nor is it used to pre-qualify you
with any lender. |
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HomeEquityLendingInfo.com is a web
property of
Infinamic, Inc., an Indiana-based marketing and
web development firm. Infinamic, Inc. is not a mortgage broker or
lender, nor does it engage in mortgage lending, brokering or
collection of borrower information. Furthermore, Infinamic, Inc.
does not share in the origination fees or points charged by any
lenders or brokers. Infinamic, Inc. operates
HomeEquityLendingInfo.com as an affiliate marketing portal
for LowerMyBills, Inc. and derives revenue strictly from affiliate
marketing fees. |
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Copyright © 2002-2007.
Infinamic, Inc. and its Licensors. All Rights
Reserved. |
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