Introduction

There are numerous benefits to owning your own home. Not only does it provide a place to live, where you can decorate as you want, but it also provides a source of wealth. Over time, most homes increase in value, and many homeowners use their gains for a whole host of purposes. Using your home’s equity can be a money-smart decision, but it is also a serious one that can have negative consequences if not done carefully. This module can help you make an informed choice. It will cover:

• What is home equity?
• Second mortgages
• Refinancing
• Reverse mortgages
• Factors to consider