Home Equity Loan

home equity loan vs home equity line of credit which is better?

considering the possibility of rising interest rates in the near future.

Public Comments

1. fixed second deed of trust only I am a mortgage banker in TN & KY
2. Regardless of future interest rates, etc., remember that unfortunately homes are not really appreciating in value even if you hear of "incredible" instances in which this is happening in certain cities or towns. Even if not depreciating in value, remember we're in the worse real estate and mortgage crisis in U.S. history!!!!!!!! Who knows how many years it will take for homes to recuperate their value????!!!!!!!!!!
3. I think it just depends on your circumstances. We rolled the remaining amount owing on our home into a HELOC. For us this made sense because: What we owe is less than 10% of the value of the house The interest rate was the best The flexibility of payment suits our present circumstances We have enough money in liguid investments to pay it off if interest rates spike. With less financial maneurvering room, a fixed rate would likely be a better idea.