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24 May, 14:38

A home equity loan can be risky because the lender can foreclose if you don't make your payments. True or False

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  1. 24 May, 16:00
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    Answer: A home equity loan can be risky because the lender can foreclose if you don't make your payments. The following statement is true.

    But the foreclosure depends on the value of your home. Defaulting on a home equity loan could result in a foreclosure. The home equity lender does depends on the value of your home. If you have equity in your home, your lender is more likely to start foreclosure, since it has a seemingly great chances of recovering some of its money. The more equity, the more likely your lender will choose to foreclose.
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