FINANCIAL HOUSEKEEPING | Is a home-equity loan or cash-out refi better?
With interest rates on the rise, consumers looking to tap into their home equity want to make sure they are getting the best possible deal for their money.
With home-equity rates looking attractive, consumers should consider whether they are better off tapping into a loan rather than refinancing their mortgage to get cash out.
The “loan calculator” section at includes a calculator that allows consumers to compare the two types of loans to decide which deal is the best for them, based on current terms and conditions. You can do the comparison by setting your Web browser to.
SHORT COURSE | Encumbrance
An encumbrance is a legal interest or right on a piece of property that affects a good or clear title and diminishes the land’s value.
Encumbrances take many forms, from easement rights and zoning ordinances to liens, mortgages, pending legal actions, unpaid taxes, restrictive building covenants and more.
The encumbrance typically is uncovered during a title search, but it does not stop the transfer of the property. Instead, the buyer must determine whether actions can be taken to remove or settle the encumbrance or the buyer can purchase the property with the encumbrance in place.
