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The major source of wealth for most people is the equity in their home.

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16y ago

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A home equity loan is a loan to be used to make repairs on a home. It is a loan that can be taken against a mortgage to fix a problem or make upgrades to a home.


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Some advantages of using equity to refinance is that one can take a small amount from their equity to pay off other bills or to refinance ones mortgage. One can also use ones home equity to make home improvements.


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