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Loan-30 Year Home Loans :- It used to be the first choice of most borrowers,

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In simple terminology, a home equity-loan is a loan taken against your house.

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A home equity loan is also called a mortgage or a second mortgage.

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While taking a home equity-loan you are actually borrowing the worth of your house.

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If the house is completely owned by you, then the term used for home equity-loan is “mortgage”,

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otherwise if your house is not fully paid off but has equity, it is called a “second mortgage”.

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A home equity-loan is an extra-loan that you take against your home in addition to your mortgage; hence this is called a second mortgage.

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This enables a home owner to encase equity without refinancing the first mortgage.

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Equity is the difference between the amount you owe on your current home mortgage and the current value of your home.>>>>>>>>

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