If you are considering taking out a home equity loan or a second mortgage you need to proceed with caution. You are taking an asset and basically cashing out the value you actually hold in the asset. Many people consider doing this in order to pay off debt, finance education, remodel their homes, or for other various reasons. If you are considering doing this so that you can pay off already existing debt, then you need to realize that the majority of people who do this end up with the same amount of credit card and other debt within two … Continue reading →