Below are the most searched keywords,about 'home equity loans',in the internet (datas of October 2007)

Search	Word
467985	home equity loan
32292	home equity loan rate
20829	fixed rate home equity loan
18296	no equity home loan
14825	home equity loan minnesota
13460	home equity loan comparison
12140	home equity loan bankruptcy
10559	home equity loan lowest rate
10295	fixed home equity loan
10282	100 home equity loan
9749	home equity loan refinancing
8229	california home equity loan
7603	bad credit home equity loan
7271	debt consolidation home equity loan

source : http://www.zirve100.net/incele.php

Link to a forum : Question Pay off Home Equity Line of Credit?

First comment from this forum :

"My wife and I have a home equity line of credit with a $23k balance. Rate is variable at 1.75 over prime and the monthly payment goes to *interest only*. We have the opporunity to pay most of it off (17k) with $ from a money market account (annual return of 1.5%). Investing in the stock market is not an option for us right now, and it is important for us to remain liquid just in case one of us loses our jobs in the next few years (an unfortunate reality in our neck of the woods).

My theory is that if we put the 17k towards the line of credit, we'll save ourselves about $80/month in interest payments, or about $960/year, which is more than we would see in return from the money market (and also more than the tax benefit if we were to leave the balance on the LOC). The way I see it is that if we hit financial hardship, we can always borrow from the line of credit just as easily as from the money market.

And lastly, we still have our first mortgage of 124k with 29.5 years left to pay, so we still have plenty of interest to write off in order for us to itemize!

Can anyone advise on the pros and cons of the above? Am I missing something?"

see this forum at : http://forums.kiplinger.com/showthread.php?t=1193

Link to a forum : Home Equity Lines of Credit Ideas Sought

First comment from this forum :

"I'm interested in hearing ideas about how (financially responsible) people use their HELOCs to save or make money. One idea I've used is to significantly raise deductibles for car and homeowners insurance with the knowledge that I have low-interest cash readily available if needed. I figure I've saved about $1,000 in premiums in 2 years and haven't tapped the HELOC yet. Do others have creative ideas to share on how HELOCs can be put to use?"

see this forum at : http://forums.kiplinger.com/showthread.php?t=2035

Article : Basics Of Home Buying

By: Pro Content

The most important investment you will ever make is probably the purchase of a home. Finding the right home for you can be a long and arduous process, but there is no getting around that.

Know Your Wants And Needs

Before embarking on your journey of house hunting, you must know what you really want to find. Sit down with pen and paper and list all the features you care most about, such as:

- Location (in a particular city, school district or neighborhood)

- Size -- how many bedrooms and bathrooms

- Parking -- a 1-car garage or 2?

- Style -- 2-story house or ranch style home?

- Heating -- central heating and/or air conditioning?

Equally important, on a new sheet of paper list all the features you absolutely do not want in a house. For example:

- high-traffic area.

- high noise area (airport, train station or highway in close proximity)

- maintenance -- major repairs needed

As you look at houses, keep both lists in mind. Your lists may change over time as you do more looking. You'll want to add or remove features, or perhaps you'll become willing to make compromises. Realize that you most likely will not find the "perfect" home. Experienced homebuyers will tell you, perfect homes are not found, they are made perfect through hard work.

Get Your Credit Report In Order

Prior to looking at properties, you must get your finances in order. This is the time to review your credit report and clean it up, if need be, to maximize your credit score. Many people do not realize how important it is to check your credit report periodically to make sure it is accurate. You should pay off any past due amounts, or negotiate a settlement price to close the debt. Get such agreements in writing, before paying any settlement. Keep all receipts for any settled items from your credit report since it may take months to get the debt actually removed.

Research Your Home-Buying Options

Decide what kind of property you are interested in. Do you want a HUD property, a foreclosure, real estate, or property for sale by owner?

A number of web sites list homes according to city, state, or price range. Visit these sites to see pictures of homes, many with virtual tours, and review the listing features.

Get Pre-Approved For A Loan

You're ready now to find a lender and get yourself pre-approved for the loan. Being pre-approved offers a number of advantages. It will clarify the price range you can afford. Also, once you find the home you want, you can place an immediate offer. If you have to wait for pre-approval, someone could buy the house right out from under you.

Several special programs are often available from lenders, such as the FHA or Ameri-Dream, that can save you money in the closing. Ask the lender about any special programs before you decide on a loan.

Find A Good Real Estate Agent

It is wise for the first time homebuyer to work closely with a real estate agent, no matter what type of property you're looking for. A knowledgeable real estate agent will make your house-hunting much easier. A good real estate agent is usually a good negotiator, and will be able to help you with the complicated paperwork involved in placing an offer on a house or in closing a deal.

It's essential that you have a real estate agent working for you as the buyer, rather than relying on the seller's agent for the house you want to buy. The latter can involve a conflict of interest, which usually works to your disadvantage.

To select a real estate agent, you should check with your friends and neighbors for recommendations. Find an agent you feel comfortable with and who is knowledgeable about the area you hope to buy in.

These are just the basics of home buying. You will find many details you need to master as you move through the buying process, but having these basics under your belt will give you a head start.

source : http://www.articleboy.com/Article/Basics-Of-Home-Buying/261

Article 06/08/2007 : Home equity line of credit, defined

A "home equity loan line of credit" is a refinance mortgage you get on your home to take an amount of equity (or 'cash') that's in your home, out of your home. Then, that amount of equity is converted into a line of credit for you to draw cash from as you please.

Just like with credit cards, you are only charged interest on the amount you've actually used from your home equity credit line, and not on the total amount. That's the difference between a regular home equity loan, and a 'line of credit home equity loan:' with a regular home equity loan that is not a line of credit, you would be charged interest on the full amount of the loan right from when you first obtained that loan.

But with a 'line of credit' home equity loan, you're only charged interest on the amount you actually use out of the line of credit: making it cheaper than a regular home equity loan, and far cheaper than a credit card.

For example, with a 'regular home equity loan' of $10,000 - you would be charged interest on that full amount right away: so at a rate of 6%, you would start paying $63/month for that home equity loan. But, with a 'line of credit' home equity loan that is also $10,000 - if you only used $1,000 of that amount, you would only make payments of $6/month (yes, 'six dollars') and you wouldn't be charged any interest on the remaining $9,000 unless you used it.

source : http://www.themortgagestoreonline.com/articles/home.php?include=133139

Article : Home Equity Loan

According to the purpose of the loan, you may either opt for a home equity loan or a home equity line of credit. A home equity loan is the amount of lump sum money you get. The interest rate on a home equity loan is more than a 1st-mortgage interest rate. You can make payments on the loan once you get the loan and once you have paid off your interest rate, it will be over once for all.

Home equity loans can be availed by a home owner to borrow money by using the house as collateral. Borrowers who want bigger amount of and who feel that they are not having good credit find the option of home equity loan as an attractive one. The lenders also are happy that they can get back their loan amount by selling the property if the borrower defaults on his loan. You will also have the fear of repaying the loan amount properly when your house is at stake.

• Home equity loans are useful to borrowers for a variety of reasons.

• Home equity loans are available with lower interest rate

• You can benefit on a home equity loan by availing of deductible tax payments

• Borrowers have the option of getting very large amounts of money as loans

• Even if you have a bad credit, you may be qualified for a home equity loan.
  

Disadvantages of Home-equity loans

If you have decided of using a home equity loan, first of you should know the negative things about the loan. If you are defaulting on a home-equity loan or failing to repay the loan amount you may be at the risk of losing your valuable sweet home to the lenders. One more thing you should be varies careful when intending to avail of a home-equity loan is not to fall into the trap of unscrupulous crooks. If you fall into their vicious trap, you will be in great trouble. If you feel something fishy, you have carelessly to think twice before venturing into a deal with someone.

source : http://www.homeequityloan-guide.info/loan.php