5 Consumer Misconceptions About Home Equity Lending
There are two types of home equity loans and it is important to know the difference between the two.
Check out this sample from the article:
Home equity loans are a great way for your members to get money for needed expenses like home repairs or college tuition. They can also be used for things like vacations or new cars. The two types of home equity lending—closed-end home equity and open-end or home equity line of credit—each have marked differences. Misconceptions abound, in part because the two are so closely related. False assumptions are made by homeowners, which can result in mistakes being made by the lender. Let’s look at five common misconceptions and issues you can easily avoid.
To read the full article on the CUES website, click here.
At Oak Tree Business Systems, we have provided compliant forms and disclosures to credit unions for 30+ years. This includes open-end and closed-end home equity lending documents. For more information, please contact ClientServices@OakTreeBiz.com