Many people who took advantage of past low interest rates don’t want to refinance their mortgages. Yet, they still might need funds for home improvement projects or debt consolidation. That’s when tapping into home equity becomes an attractive option.
But is it a wise option? Tapping into your home’s equity may create a significant risk. It’s essential to have all the facts before deciding on whether to take this step. Having the right reasons for accessing your home’s equity is also imperative.
