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http://equity-loan-information.blogspot.com/2011/09/what-is-home-equity-loan.html[/postlink]
http://www.youtube.com/watch?v=gVzlt_QBSe4endofvid[starttext]In its simplest definition, home equity loan means using your own home fairness as collateral with a purpose to borrow money. Collateral means your home will act as a guarantee. Within the case in case you cannot pay the mortgage or defaulted too lengthy on payment, the lender has the proper to sell the home to get again the loan. The phrase fairness simply means how much the house is value minus the mortgage you presently owe[endtext]
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