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What are the disadvantages of a home equity loan?

April 26, 2017disadvantages home equity loan

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What are the disadvantages of a home equity loan?

2 Answers

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Your home is on the line and if you default on payments you could lose your home. There is a cost to take out a home equity loan you will pay money both in interest and fees when you take out a home equity loan.

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Posted

Your home is on the line and if you default on payments you could lose it. There are costs to take out a home equity loan. You will pay money both in interest and fees when you take out a home equity loan.