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09/09/07
Home-equity loans quickly drying up
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 12:13 pm

When James Chou’s credit-card debt began to spin out of control a few years ago, he turned to a home-equity loan to pay it off. It proved to be a wise choice. Interest rates on home-equity loans are generally lower than on credit cards. What’s more, the interest is tax-deductible, unlike credit-card interest. That was a few years ago, and Chou, a purchasing manager in Lawrenceville, Ga., looks back with relief.  More…

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