Home equity loans and traditional mortgage loans both use your home as collateral, or backing, for the debt. This means that the lender can seize the home if you don't keep up with your payments.

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Second home mortgages can be beneficial if you want to invest in a vacation home or a short-term rental. However, rates often change based on market conditions.

A home equity loan is a second mortgage. It takes some of the equity that you’ve accrued in your home — typically no more than 80% — and converts it into debt in exchange for a lump sum of cash.

Does Uncle Sam want you to own a home? Not necessarily, but the real estate industry does, and its members lobby politicians hard to create and maintain tax benefits for homeownership. Since the ...

Know your options before using your home as collateral to get cash Christian Allred has been a professional writer since 2020. He's written for some of the industry’s top brands and publications ...