PROJECTS

Home Equity Line of Credit

Paying for school can be challenging, especially as the costs of college continue to rise. There are options... if you are a homeowner (or your parents are), this options may be something to consider.

The home equity line of credit (also known as the HELOC)

Buying a Home

A mortgage is an agreement between you ( the buyer ) and the lender. The lender holds the right to take your property if you fail to repay the money you've borrowed plus interest. A Mortgage loan is typically used purchase a home in the city, in the suburbs or in the rural areas.

Reverse Mortgages

Homeowners who opt for this kind of mortgage ( reverse mortgage ) can continue to live in their homes on the condition that the loan must be repaid when the borrower dies, permanently moves out or sells the home. Candidates for this option typically own their homes free and clear. However, its important to note the fact that, they may not be able to borrow the entire value of their home even if their primary mortgage is currently paid off