11.   Boas advises against borrowing more money through consolidation loans or home equity loans to pay off debts.

12.   A home equity loan, for example, lets you deduct the interest on your income tax return.

13.   A cash-out refinance, on the other hand, will almost certainly cost more in fees and closing costs than an equity loan.

14.   A hike in the funds rate would quickly translate into higher rates for home equity loans.

15.   A home equity loan could work well to pay off your personal debt and help your tax situation to boot.

16.   A home equity loan usually has a fixed rate and a set repayment schedule.

17.   A number of resources are available for debt holders who are considering a home equity loan.

18.   Aames is in the very profitable but risky business of selling non-conforming mortgages and home equity loans that let people pay off credit cards and other loans.

19.   Additionally, the interest paid on equity loans, including the existing mortgage, is tax deductible only up to the value of the home.

20.   But I think for a person who is financially very responsible, a home equity loan can be very useful thing.