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2. Fact vs. fiction: Top 8 common home equity myths — debunked

   www.aol.com/finance/home-equity-myths-debunked...

   Reverse mortgages — Type of loan for homeowners ages 62 and older to borrow against their home equity, using their home as collateral — yet instead of you repaying the lender, the lender pays ...

3. Home equity loan - Wikipedia

   en.wikipedia.org/wiki/Home_equity_loan

   Home equity loans come in two types: closed end (traditionally just called a home-equity loan) and open end (a.k.a. a home equity line of credit (HELOC)). Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are ...

4. Bank statement loan: What is it and who should get one? - AOL

   www.aol.com/finance/bank-statement-loan-one...

   With a bank statement loan, you qualify for a mortgage based on your bank statements rather than tax returns. ... have a credit score of 740 and want to purchase a home. Your income fluctuates ...

5. Real Estate Settlement Procedures Act - Wikipedia

   en.wikipedia.org/wiki/Real_Estate_Settlement...

   For example, a lender advertising a home loan might have advertised the loan with a 5% interest rate, but then when one applies for the loan one is told that one must use the lender's affiliated title insurance company and pay $5,000 for the service, whereas the normal rate is $1,000. The title company would then have paid $4,000 to the lender.

6. Reverse Mortgage, Home Equity Loan or Refinance? The ... - AOL

   www.aol.com/finance/reverse-mortgage-home-equity...

   Home equity is a valuable financial resource. By definition, it’s the difference between your home’s value and how much you owe on your mortgage. For example, if your home is worth $500,000 ...

7. Can You Get a Second Mortgage If Your Only Income Is ... - AOL

   www.aol.com/finance/second-mortgage-only-income...

   In order to qualify for a second mortgage, sometimes referred to as a home equity loan, you’ll need to provide your lender with proof of consistent income. Social Security income qualifies, but ...

8. Home equity: What is it and how can you use it? - AOL

   www.aol.com/finance/home-equity-121018740.html

   Home equity loans: A home equity loan is a second mortgage for a fixed amount at a fixed interest rate. The amount you can borrow is based on the equity in your home, and you can use the funds for ...

9. The truth about no-appraisal home equity loans: What ... - AOL

   www.aol.com/finance/what-is-a-no-appraisal-home...

   Say your gross monthly income is $5,000 a month, and you typically pay $700 a month to your mortgage, $500 a month to credit cards and $250 a month to a personal loan — a total of $1,450 in ...