If you have been paying off a home loan for some years, chances are you have achieved a level of equity that can be useful in these tough economic times. Even if your home loan is not yet fully paid off, the equity you have built over time can be helpful in several ways: You can use it to consolidate your debts, pay tuition fees for your dependents, fund major home renovations or even pick another assets because the a financial investment.

What’s security?

Security is the difference in exacltly what the property is really worth and you will everything you still owe inside it. This means that, if you decided to promote our home and repay your own financing, security may be the dollars count left over. Continue reading →