Home Equity Line of Credit Georgia

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

Sperry Van Ness
404-303-1232
8975 Roswell Road
Atlanta, GA
Metro Brokers/GMAC Real Estate
770-231-9387
1175 Buford Road
Cumming, GA
Ackerman & Co.
770-913-3940
10 Glenlake Parkway, South Tower
Atlanta, GA
Adams Commercial Realtors
404-688-1222
458 Cherokee Ave. S E
Atlanta, GA
AMLI Residential
404-471-1140
2500 Shallowford Road
Atlanta, GA
Atlanta Apartment Association
770-518-4248
8601 Dunwoody Place
Atlanta, GA
Braden Fellman Group, LTD
404-876-6432
931 Ponce de Leon Avenue, NE
Atlanta, GA
Clairmont Oaks, Inc.
404-634-3263
2982 Briarcliff Road NE
Atlanta, GA
Corporate Property Advisors, Inc.
770-953-4050
600 Galleria Parkway
Atlanta, GA
Cousins Properties Incorporated
770-955-2200
2500 Windy Ridge Pkwy.
Atlanta, GA

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

Sperry Van Ness

404-303-1232
8975 Roswell Road
Atlanta, GA
www.svn.com

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Related Local Event
2Nd Annual Real Estate Industry Day
Dates: 9/18/2009 - 9/18/2009
Location: Holiday Inn Decatur
Decatur, GA
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