There will often come a time in everybody's life when they could desperately do with some extra cash or some form of emergency funding. You can of course go the "traditional route" of applying for a personal loan or credit card, but there are unfortunately many people who are unable to go this "traditional" route.
This is where some may consider borrowing from their greatest asset - their home. Let's face facts - borrowing money from your home is likely to offer the most favorable terms and interest rates, and indeed a greater chance of being approved for a loan. This is typically because a lender will be able to use your home as security and you will also have a longer period over which to repay your loan - hence you will generally be viewed as a "good risk" by any potential lender.
However, we would hazard a guess that the maze that is home equity borrowing can be extremely confusing to the average financial consumer. This is the exact reason why we have produced our Guide to Home Equity Borrowing. This is the perfect financial resource and "must read" guide for anyone considering borrowing money from the equity in their home.
Our Guide to Home Equity Borrowing will explain the difference between home equity loans and home equity lines of credit, and which one of these is best for you in your current financial circumstances. We will also provide details of the application process and reveal the potential pitfalls and alternative ways of borrowing from the equity in your home.