Making the most of your equity
We took out a home equity loan earlier this year to pay off some of our debt and were able to lock in at a great fixed rate with no fees through our local bank. We consolidated our 2 car payments, and some other bills that we are no able to get some tax relief thanks to the interest. But we also took the loan knowing that we would be making double payments over the 10 year note. This way we were not incurring or extending our debt, but just simpy trying to accelerate the payoff. Check with your lender or bank for all of your options. And for even more calrity check out PersonalHomeLoanMortgages.com and check their great resources on questions to ask and what to expect. 