Home Equity Loan - Is It For You?Written by Keith Thompson
A Home equity loan has become an easy way to not only pay off other non-deductible debt, but to come up with large wads of cash for remodeling projects, vacations and more. People have financed college educations with a home equity loan, so your imagination is your only barrier. There are few if any restrictions on a home equity loan because in essence you're using your own money. With housing markets booming over last several years, and no definitive end in sight, higher prices we find attached to our homes has sent equity soaring too. It's no longer necessary to gamble in stock market if you're looking for large returns: just own a house, and then use a home equity loan to fund your particular needs.A home equity loan can offer many attractive features, but there are a few things to be keep in mind. Be aware that in an inflated market, your home's value could at some point take a dive and you find yourself in a situation where your loan exceeds your home's worth, particularly if you've taken
| | Self Certification is the answer if you can't prove your incomeWritten by Mark Harrison
Self certification could be answer.Also known as self cert, this is a great way of obtaining a mortgage even if following applies: 1. You cannot prove your income because it comes from a number of different sources. 2. You do not show enough of a net profit. 3. You do not have 3 years audited accounts Even if you are employed you can self certify your income as you may have a set basic salary but earn a huge (but inconsistent) amount on top.
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