Related Services - The following company listings on the Debt Consolidation Loan Directory are offered to assist you with handling your credit card bills and other monthly payments. Also, in addition shop for other financial services ranging from credit card offers to home and car insurance.

• Debt Consolidation Services - Learn about the debt consolidation process and review detailed listings for lenders and services offering to help consolidate your debts.
• Debt Management Counseling - Too many credit cards and other bills to make monthly payments on? Start here by reviewing and comparing different debt management options for getting help with your credit card bills and other monthly obligations.
• Credit Card Debt Settlement - Too much debt? List of companies providing this alternative to bankruptcy that provides for debt negotiation and arbitration services for those that need to eliminate debt.

Home Loans

How to Keep Costs from Going Through the Roof

31. Borrowing money from your home's value can be low-cost but also risky. Many people take out low-cost loans based on their equity in the house. The equity refers to the difference between what is owed the mortgage lender and the current market value of the property. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.

Home equity products can be used for many purposes, including home improvements, college tuition and car purchases. They also can be low-cost loans because the interest rate is usually lower than for credit cards, and the interest paid is often tax deductible (check with your tax advisor). But — and this is important — the big risk with home equity products, as with a mortgage loan, is that you can lose your home if you can't make your payments. "Home equity products can be fine for many people but, because you would be putting your home on the line, these loans are not to be taken lightly," Kincaid stressed.

FDIC Consumer News is published by the Federal Deposit Insurance Corporation

FDIC Consumer News is produced quarterly by the FDIC Office of Public Affairs in cooperation with other Divisions and Offices. It is intended to present information in a nontechnical way and is not intended to be a legal interpretation of FDIC or other government regulations and policies. Mention of a product, service or company does not constitute an endorsement.

Find current and past issues of FDIC Consumer News at http://www.fdic.gov/consumernews. Refer to this same index to locate the issues that are specially formatted for being reprinted in any quantity.

To receive an e-mail notice about each new issue of FDIC Consumer News posted on the FDIC Web site, with links to stories, follow instructions posted at www.fdic.gov/about/subscriptions/index.html.

Last updated on 8/10/2007

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• Home Equity Loan Products: How to Borrow Safely - As values increase in many housing markets, Americans are increasingly tapping their home's equity for an equity loan or an equity line of credit. Learn more and make the right decision for your needs.

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