Home Equity Quotes:

Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.

- Alan Greenspan

topic: Fall, Home, Years, Home Equity

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.

- Alan Greenspan

topic: Home, Years, Majority, Homeowners, Foreclosure

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Consolidation, Home Equity

You also need to understand that when you consolidate credit card debt into mortgage debt - like a home equity loan or a HELOC [ home equity line of credit ] - you're taking an unsecured debt and turning it into a secured debt.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Credit Card Debt, Home Equity

Even in the days of the tightest credit in 2008, HELOCs [ home equity line of credit ] and home equity loans were being made.

- Jean Chatzky

source: Source: www.nbcnews.com

topic: Home Equity