Difference between debt consolidation loan OR home equity loan
Date: Mon, 08/10/2009 - 00:13
Hello All Members, Whats difference between debt consolidation loan and home equity loan? I consider Not in most cases. So,please share your opinion here..
In home equity loan, the debtor uses the equity in his home as s
In home equity loan, the debtor uses the equity in his home as security, to get a new loan to pay off his debt. In debt consolidation loans, the creditor need not keep anything as security to obtain a loan, and can pay off his outstanding debt at a lower interest rate.
