Saturday, December 27th, 2008
Home equity loans are appealing to people who have fallen into a downward spiral of spending and borrowing. The cycle of getting a loan to pay off debt and free up credit that is then use to make additional purchases is called "reloading."
Reloading leads to accelerated borrowing that can result ...
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Saturday, December 27th, 2008
The home equity loan came of age in 1996 when changes in the tax law eliminated deductions for the interest on most consumer purchases. Interest paid on home equity loans, however, remained exempt, up to $100,000 for taxpayers filing jointly.
The two main types of home equity loans are fixed-rate loans ...
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