While home-equity loans and lines of credit are extremely popular even today, it is important to look for other means of credit. In the recent past, when the housing market was in a much better shape, quite a few Americans used the equity in their homes to finance other expenses. Timesleader.com reports:
But times are changing. Interest rates on short-term home-equity lines of credit have spiked even as the housing market is slowing, which means homeowners will have less of a cushion to fall back on should they be unable to repay borrowed money. Check current rates.
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