Monday, July 14, 2014

I own a House No mortgage or anything? What if i take a home equity loan out?

Hey I own a home approximately worth $120k. No mortgages or leans or anything its clear.

Can I take a small loan out on the value of my home?

If I took out $15,000 loan, and lose my job and cant make payments, can the bank or w.e force me into sale? Even though i owe so little in comparison, or would they just put a judgement / lean against it?

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