Wealth Creation graphic
Wealth Creation symbolWealth Creation picture
Wealth Creation image


Welcome to Universal Wealth Creation.com


This site have been developed as a resource for people

searching for the best ways to create wealth and increase the

quality of their lives. Inside you will find reviews of the latest

Investment strategies available.

Wealth Creation 

Home Page





Wealth Creation

Wealth Finance & Property Articles

 HELOCs and Second Mortgages: Which One Should I Choose?
 By: Mark Lambie

  Whether you need some extra cash to pay off some credit card debts, or to make some home improvements, home equity lines of credit or second mortgages can be great ways to get started.

Many people looking to borrow money often opt for home equity line of credit, or HELOCs, for short. They are a tempting first choice, because they can often give you the much needed cash at a low interest rate. Another advantage to taking out an HELOC, or a home equity line of credit, is that they may provide the borrower with a certain tax break, but you would need to verify this with your lender or accountant.

One drawback to HELOCs, however, is the fact that borrowers are expected to put their homes up as collateral. So, it is important that you think this decision through, before finalizing the loan, because you may be at risk of losing your home- and its equity- if you are late or cannot make your monthly payments. Finally, if you decide to sell your home, must HELOCs will require that you pay off the balance, before completing the sale.

You can also take out a second mortgage, if you need some cash. Like the HELOC, second mortgages usually pay out the loan in one sum, which makes it a convenient option. Second mortgages also have the added advantage of having set payments, at a fixed interest rate. Many companies will charge a lending fee, which will vary from company to company. These fees are usually based upon a percentage of the loan and are frequently referred to as 'points.' If one fee seems too high, don't be afraid to shop around to find one which is better suited to your budget.

Remember, however, that adding a second mortgage to your home carries with it certain risks. Like with home equity lines of credit, you could lose your home, if you fall behind in the payments.

About the author:
Mark Lambie is the founder of The Loan House a website that allows consumers to quickly and easily get online mortgage quotes and mortgage information.

Circulated by Article Emporium


http://www.universalwealthcreation.com   Wealth Creation | Financial Wealth

Copying or republishing this article is permitted with this footer included


Collect a Free 260 page ebook here: Universal Wealth          Earn up to $1,000 per referral: Wealth Creation Affiliate


These property, finance, stock market & business articles have been supplied in the interest of Universal Wealth Creations visitors who want to expand their knowledge in the wealth creation & investment fields.  All the business, finance, stock market & business articles have not been read as they are submitted remotely, so if you find any questionable facts in here or simply do not like it, please email webmaster@universalwealthcreation.com and we will review the material. As we find time to do so, we will go through all articles and remove any that appear not suitable. Other sites we recommend here at Universal Wealth Creation are: 21st Century Academy with Jamie McIntyre, Investor Finance, Universal Trading Solutions which promotes great wealth creators like: Kim Reilly, Simon Martin, Justin Beeton, Louise Bedford, John Kaye, Daniel Kertcher & more. They run great seminars across the country. At times we will publish dates for these seminars as they are made available around the counrty. Meanwhile, there is a great opportunity to learn about the finance, stock market & property investment field through reading these kind of articles. Learn about share trading, options, futures, CFD's, derivatives, warrants, indices & more in the stock market. You will also learn plenty about business, finance & property investing through authors opinions in the marketplace.  Enjoy your journey towards financial freedom. We hope you will enjoy your visit.

Regards    Sean Rasmussen - Universal Wealth Creation Pty Ltd

Financial Wealth | Wealth Creation Ebook | Wealth Creation Ezine | Financial Investment Books | Kim Reilly | Jamie McIntyre DVD | Jamie McIntyre Homestudy  | FAQJamie McIntyre Testimonial | Wealth Creation Forum | Wealth Creation Affiliate | Bourse Data | Australian Property | JB Global | Justin Beeton | Investor FinanceRenting Shares | 21st Century Academy | Pacific Investor Group | Forex Currency Trading | Property Investment | Australian Property | Covered Calls | Property Sourcing | Property Articles | Business Articles | Finance Articles | Resource Directory | Jamie McIntyre | Business Opportunities | Property Investing | Share Trading | Renting SharesStellar Property | Investor Finance Articles | Property & Finance Links | Wealth Creation DVD | Perth Property | Adelaide Property | Brisbane Property | Hobart Property | Melbourne Property | Sydney Property | Australian PropertyASX Links | Work From HomeMaking Money | CK Locke | IPO | Finance Review | Deposit Bonds | Bank Guarantees | Investment Tutorial |

Site Map


Return to Index

Return To Universal Wealth Creation Home Page





Copyright 2004 & 2005 Universal Wealth Creation