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HELOC Vs Home Equity Loan: How Do They Work?

Savings Corner

A home equity loan is a secured installment loan that allows you to borrow a set amount against your equity at a fixed interest rate and repayment term. A home equity line of credit (HELOC) is also secured. So, defaulting on the monthly loan payments means the lender could foreclose your home. HELOC: What is it?

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Can You Cut Expenses by a Half Million Dollars?

Prairie Eco-Thrifter

With the advent of the Great Recession, today’s populations are re-learning frugality and expense reduction. The strategies did keep us out of debt however, and instilled in us habits of self-reliance, attitudes of ‘we can do that’ and a measure of life-long thriftiness that we might not otherwise have had.