Despite its bad rap, not all debt is bad debt. Some are actually beneficial for the debtor and considered “good debt.” Here’s a look at the factors defining good debt, the various types of good debt, and how to keep debt from going bad. WHAT IS GOOD DEBT? Good debt helps you build wealth or
Trends and stats in real estate are constantly changing, especially during the unstable economy of COVID-19. Here’s what you need about the real estate market today. Is it a buyer’s market now? Pickings are slim for homebuyers right now, giving sellers the upper hand and driving up prices for buyers. Low supply also means homes are
With interest rates falling and home prices rising, it might be a good time to use your home’s equity. A home equity loan, or HEL, can be an ideal way to source extra funds during a falling-rates environment. If approved, you’ll receive the funds in one lump sum within a few days. There are no
If you’re looking to fund a home improvement project, or the economic devastation of COVID-19 has left you in need of cash, consider tapping into your home’s equity with a home equity line of credit, or a HELOC. WHAT IS A HELOC?A HELOC is a revolving credit line allowing homeowners to borrow money against the
As a member of DoverPhila Federal Credit Union, you have several options for funding a home renovation. You can open a HELOC, or a Home Equity Line of Credit, which is an open credit line that’s secured by your home’s value for up to 10 years. You can also fund your renovations with an unsecured
