Home Equity Loan: The Temptation

Mortgage companies are trying to arouse your temptation to
take a loan on the equity you have built on your home whose
value (if you are in places like L.A. or Boston) skyrocketted in
recent years and just spend it through a vacation in Hawaii or
having a new car or whatever ....
Sometimes it almost seems that all that will come free.

Fed will continue to increase the interest rate throughout the
year and, remember, unlike 30 year or 15 year mortgages,
home equity loan is usually tied up with that rate.

So, if you spend that equity, after a few months you may feel
much more pain than the pain of not having a new car or that
dream vacation in Hawaii.

Be sure. Having peaceful mind and a daily normal life with
your family or with your hobbies could also be enjoyed as a
great vacation that you can afford in easier ways.