The Ins and Outs of Equity Cash-Outs

Home owners often lament, "I've got a lot of equity but it's not in my pocket." One way to put that equity into your pocket is to sell. Another is to refinance your existing loan with a new, larger loan. The third option, which many people forget to consider, is to take out an equity loan. Equity loans are junior, second to and subordinate to the existing first mortgage. Because they are smaller loans, typically home owners will pay smaller fees, if any, to tap that equity.

So, what type of loan should you get? What's the difference between a home equity line of credit, equity loan and a bridge loan? Get the facts on fast equity cash-outs, so when you need the money -- whether it's to fund a home improvement project, pay for a medical emergency or maybe use as a down payment on a new house before you sell -- you've already done your homework.

• Where to Get a Mortgage
  
• Questions to Ask Your Mortgage Lender
  
• Repairs Before Resale