What is home equity loan?
The home equity loan is one of the most common products in the market for fine institutions n tions. Also the mortgage loan. But credit hi potecario a home equity loan is a big difference.
Maybe the same thing happened to me. Sometimes, we use the words credit and loan as synonyms, which I still believe is the right thing to do. However, it is not the same. I learned after a couple of confusion or purposes.
People tell us that they want to transfer the credit, lower the rate or reduce the value of the monthly payments and that is why they want to transfer their loan. That is our job. And then, the “but” appears.
One day, at the end of the afternoon, the phone rang. It was right to leave but decided conte s tar. It was a lady. He was happy to speak. He had been thinking about a solution for the cost of his credit for several days, he searched the internet and called. He told me that the loan was paying him for two years. She and her husband were hacie n do a huge effort to comply, because they were starting a new business and the costs were huge. They didn’t want any more debts. On the contrary, they could not wait to release the mortgage on your c a s.
Until that moment, everything sounded normal.
What is mortgage loan?
Without this loan we would not have been able to set up the business, but it would be excellent news if we could lower the monthly payments.
That phrase was the alarm. I asked him a couple of questions and confirmed that he was talking about a free availability loan with a mortgage guarantee.
Sure you noticed the difference. They had requested a loan to set up the business and, as the sum was high, they offered their home as collateral. I thought, at first, they had taken a loan to buy your home and, of course, so I was h i potecada. I explained the difference, we hung up and before closing the office I promised not to fall back into confusion.
But it is not easy.