Should I use my home’s equity to purchase another property? — Anonymous
With housing markets heating up and interest rates still low, it can be a great time to invest in real estate. But if you don’t have a lot of extra cash on hand, how do you pay for it?
There are the usual methods, like financing the purchase with a mortgage or selling some stocks and bonds, and the usually bad ideas, like taking money out of your IRA or a loan from your 401(k), but some second home buyers have another option: the equity they’ve built up in their home.
READ MORE: http://money.cnn.com/2013/08/16/pf/expert/home-equity/index.html
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