2007-03-07 06:09:39 · 5 answers · asked by Ehis A 1 in Business & Finance ➔ Investing
You may be interested in this new program. It works well with a 30, 20, or 15 year mortgage. I am currently using a HELOC (home equity line of credit) with a new software program that helps build equity fast, and will payoff my home and other loans in less than half the time without refinancing, and without extra payments. It is saving me thousands in interest, and pays off home in less than half the years. Those who take an honest look at all the facts and figures from a reputable source will find that this system truly creates a significant advantage for homeowners. E-mail me if interested.
2007-03-08 08:21:00 · answer #1 · answered by marshae 1 · 0⤊ 0⤋
Use equity? Do you mean invest in equity? If you were to invest in less seasoned corporations, there is more risk. I am not certain duped is the proper terminology. With any investment equity or otherwise there is always the probability that all is not as it appears. Corporations do like to play games with their accounting. Sort of a national past time with them. One of the latest schemes is back dating stock options. Maybe involves hundreds of companies.
The best method of minimizing the probability of a royal duping, is diversity of investments in seasoned companies. Does not prevent it, only reduces the consequences.
2007-03-07 06:20:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I'm assuming that you're referring to a home equity loan. The easiest way to get duped is to compare interest rates between a home equity loan and a line of credit.
Home equity loans are normally fixed interest, while credit lines are normally variable, revolving interest. First of all, because of compounding interest, you pay higher interest on a credit line than on a loan. In other words, at the same rate, paying off the same amount of principal, over the same time period, you will make a substantially higher total payment on the credit line. Your lender can illustrate this for you.
Of course, you may have a need for an available credit line, but if you have a specific amount needed, get the loan. Some lenders will allow you to do both.
Also, keep in mind that home equity lines of credit usually charge an interest-only monthly payment. I have seen people carry a balance for years not knowing that they haven't paid off any principal. Also, your interest rate on the line is likely to rise, given today's low rates.
2007-03-07 08:48:35 · answer #3 · answered by Rob D 5 · 0⤊ 1⤋
Do you mean equity release schemes, where they give you a lump sum and then hold a charge on your house until you die?
They charge you interest indefinitely, which could rise and make it difficult for you to meet the payments at which time they could repossess your house. You need to read the smallprint very closely and have a solicitor check the details for you. This is not something to get into without lots of thought and some good advice.
2007-03-07 06:16:17 · answer #4 · answered by Ahwell 7 · 0⤊ 0⤋
DONT DO IT BECAUSE THERE IS GOING TO BE A BIG CRASH SOON, AND YOUR EQUITY WILL BE NON-EXISTANT, YOU WILL LOSE YOUR HOUSE
2007-03-07 06:13:29 · answer #5 · answered by SCOTT B 2 · 0⤊ 3⤋