Although many Americans look to home equity lines of credit to finance a needed repair such as a new roof or tackle other expenses, it is important to see an HELOC for what it is - a second mortgage resulting in a lien against your home. A home equity line of credit is a home's market value minus any outstanding loan balance giving homeowners access to cash using their home as collateral. Of course, when homeowners take out an HELOC, they increase the risk of losing their home if they are … [Read more...]
Archives for March 2019
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Utility Shut Offs Loom as the Weather Improves
As the warmer weather approaches, some families face the prospect of having their utilities shut off for nonpayment. In many states a winter moratoriums run from November through the end of March (State Disconnection Rules), so as April approaches, some may lose power if they are running behind on their utility bills. Oftentimes an inability to keep up with utility bills is part of a larger financial struggle. Fortunately, Chapter 7 bankruptcy can provide immediate relief to those who are in … [Read more...]
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