What is a Home Equity Loan and How Does it Work?

If you are a homeowner, you may be sitting on tens of thousands of dollars in cash. In recent years, housing values across the nation have dramatically risen since the housing crisis in 2008. According to Zillow, the upward trend in home values began in early 2015. From 2017-2018, home values increased by 8.7 percent. Home values in 21 of the top 35 housing markets are higher than they were at the peak of the real estate boom in 2006. This is an excellent option if you need large sums of cash for anything, including launching a startup.

Gorgeous house with large lawn

If you were fortunate enough to purchase a home soon after the 2008 housing crash, you can have access to a large sum of money through a home equity loan.…

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