Home Equity Loan
Home Equity Loan
DEFINITION
A Home Equity Loan allows a home owner to tap into the equity built up in the home. It is usually the difference between the amount of money you owe on the home and what the home is worth today. Interest paid is tax deductible. The loan is secured by the equity in the home. If the loan goes into default, the bank can take over the property.
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Terri J Lee S.
Arizona Member
I originally joined LegalShield because I wanted to get my will completed. However, I have kept my membership because of the value it provides. I feel good knowing that if I have a legal question or if I need help with a legal document, I can contact LegalShield. I would highly recommend this company, and in fact, I have referred some of my friends and family members
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Texas Member
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