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Home equity loan tips

August 01, 2004

The Federal Trade Commission has several informative publications concerning home equity loans available for consumers at its Web site, www.ftc.gov.

Here are some tips:

- Shop around to find the best home equity loan for you. Contact different lenders and compare options.

- Check with your tax adviser about tax benefits.

- Ask how many fees there are and how much they cost.

- Don't sign off on a home equity loan if you don't have enough income to make the payments.

For more information, visit www.ftc.gov. In the left-hand column, click on "For Consumers." Then click on "Credit."

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