What is the negative of a home equity loan?
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roma
Apprentice
Joined: 25 Dec 2005
Posts: 2
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 Posted: 08/22/09 - 09:17 Post subject: |
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| Would you like to answer this small question about home equity loan? I need to find out some details so I came here hoping that someone would be able and willing to help me. Tell me what is the negative of a home equity loan? I was able to understand practically everything but this part I am missing. Actually, tell me everything you know about this type of loan. |
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kale
Apprentice
Joined: 13 Jul 2005
Posts: 13
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| Posted: 09/20/09 - 23:06 Post subject: |
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| Some people were living next to my house, while I was still in the old town. They were doing something that was involved with this home equity loan and I believe that they were unable to repay it, so they had to move. Although, it is strange, for home equity loan is not meant to be as a classic mortgage. It only reduces the value of your home’s equity. |
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