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If you've carefully thought about the risks and advantages of a home equity loan, your personal financial situation and your credit history and you think a home equity loan may be right for you, it's time to start shopping for a loan. Don't rush! Think about your options, shop around for the best lender and loan terms you can find, and get advice along the way from a credit counselor or other financial professional.

Talk to a credit counselor before you borrow to avoid unnecessary costs and headaches

Pull together the information you need

Shop around before deciding on a lender

Get smart about what kinds of home equity loans are available

Understand your interest rate options

Get the info you need before you sign the papers

Understand the lending lingo

Crunching the numbers

Watch out for lending scams
BorrowSmart Public Education Foundation provides the knowledge, skills and tools home equity borrowers need to gain financial literacy and "borrow smart."

Established in 2001, BorrowSmart and its partners empower consumer equity borrowers through lenders, credit counselors, regulators and direct contact by providing free information and education that leads to open access to available credit for all homeowners.
BorrowSmart Public Education Foundation will grow to a national presence and be recognized throughout the housing and financial communities for its educational programs and services to reduce the national foreclosure rate among home equity borrowers. BorrowSmart programs will create smarter home equity borrowers and more home ownership retention across America.
 




BorrowSmart is a consumer service provided by the BorrowSmart Public Education Foundation.
© 2002 - 2008 BorrowSmart Public Education Foundation.