Reported 3 days ago
Home equity loans can be a viable option for debt consolidation due to their lower interest rates compared to credit cards, making monthly payments more manageable. However, using home equity comes with risks, such as putting your home at risk if you default, the potential for high interest rates for those with poor credit, and the possibility of accumulating more debt if spending habits don't change. It's essential to weigh the pros and cons before deciding to utilize this financial tool to address debt.
Source: YAHOO