About HELOC Loans & Reverse Mortgages

Americans spend more money than they make. Helping to fuel the spending frenzy have been HELOC loans. Many homeowners have been drawing on their home equity as a source of cash, as low rates on home-equity loans, HELOCs and cash-out refinancings have made it easier than ever to tap into the value of a home - and spend it.

Used wisely, HELOC loans are among the most powerful and flexible financial tools available to the average person. However, careless use of home equity can quickly lead to serious financial problems.

Recently, a new type of home equity loan - the reverse mortgage - has become incresingly popular. Reverse mortgages are targeted at homeowners over the age of 62. As with HELOC loans, used wisely reverse mortgages can be very beneficial financial tools. For the unwary, however, a reverse mortgage can prove disastrous.

The purpose of this site is to provide consumers with the HELOC and Reverse Mortgage loan infomation they need to: 1) get the best possible deal and, 2) use their home equity borrowing as prudently as possible. Take advantage of the many resources on this site to become a truly savvy HELOC loan or reverse mortgage loan consumer!

Anyone considering a home equity line of credit is strongly encouraged to read this Federal Trade Commission brochure.