Sunday, February 4, 2007

Home Equity Loans

Home Equity Loan is the amount of 2nd loan available after taking consideration of the market value of your home minus the outstanding amount owing to the bank. You can use the loan granted for your various purposes. Basically it can be disbursed in one lumpsum with fixed repayment period or being given extra fixed line of credit in a manner use as you like and pay at your convenience. Of course, within the bank's specific terms and conditions.