How to Bank On Your Home - 2005-03-19
How huge of a risk do you take—should you take—when you borrow against your home? With prices in most places bounding up, homeowners find themselves sitting on a fat pile of capital (your "home equity"—the cash you'd put in your pocket if you sold the house and paid off the mortgage).
You can borrow whenever you want and expand your payments out for years. At Countrywide, home-equity lending jumped 60 percent from February a year ago, compared with 15.6 percent for other mortgage loans. Wells Fargo reports a 40 percent gain.
Read the full story at Newsweek