Home Equity Line of Credit Bend OR

This article is going to tell you about one of the most common secured loans, that is the home equity line of credit. This loan amount is based on how much equity you have in your home.

Local Companies

Marleen Pitts Appraisals
541-382-1043
61183 Concho St.
La Pine, OR
Little Deschutes Lodge, LP
(541) 390-9679
5 NW Minnesota Ave, #210, Bend
La Pine, OR
Eagle Commercial Real Estate
(541) 593-7033
Sunriver Village, Bldg 8, Sunriver
La Pine, OR
Jackson, Vicky, Broker
541-771-2914
17346 Mink Court, Bend
La Pine, OR
Village Properties
1-866-320-5139
Sunriver Village Mall Building 5, Sunriver
La Pine, OR
Washington Mutual
(541) 388-5456
61535 S Highway 97
Bend, OR
Liberty Bank
(541) 382-3686
200 SW Century Dr
Bend, OR
Pacific Rim Real Estate and Development
(541) 504-1000
60901 Raintree Ct
Bend, OR
Windermere Central Oregon Real Estate
(541) 388-0404
61510 S Highway 97
Bend, OR
Investwest Commercial Real Estate
(541) 318-4560
142 NW Hawthorne Ave
Bend, OR

Home Equity Line of Credit - Perhaps one of the most common secured loans is the home equity line of credit. This loan amount is based on how much equity you have in your home. Once you take out this type of secured loan, your house becomes collateral. The most positive aspect of a secured home equity loan is that the money you borrow is tax deductible. For instance, if you have $5,000 in credit card debt, you can roll that over into a home equity line of credit. The credit card payments are not tax deductible, but the home equity loan is. In contrast, standard debt consolidation loans are not tax deductible.

Interest Rate Advantages - Another advantage of using a secured loan for debt consolidation is the interest rate. For many people, credit cards are the source of their debt problems. Credit cards have enormous interest rates. Since secured loans are "secured" by collateral, they tend to have significantly lower interest rates.

After discussing the pros, it is important to understand the con of using a secured debt consolidation loan. Again, many people use a house or a car to secure these types of loans. If you happen to default on the loan and cannot make payments, your house or car will be in jeopardy. A house is usually the largest asset someone owns. You do not want to put your most valuable asset at risk.

For some people, debt consolidation is the best option for their financial problems. Be sure to carefully weigh the pros and cons before choosing to use a secured loan for your debt consolidation.

About the Author:

Carrie Reeder is the owner of http://www.abcloanguide.com, an informational website about various types of loans.

View her recommended http://www.abcloanguide.com/debtconsolidation.shtml companies.

Article Source: thePhantomWriters Article Submission Service

Featured Local Company

Marleen Pitts Appraisals

541-382-1043
61183 Concho St.
La Pine, OR


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