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A home equity loan is a financial product that allows you to borrow against the value of your home. You’re able to receive in cash a portion of your home’s equity, or the difference between the amount owed on your mortgage and your home’s market value. For example, if your home is worth $.
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Mortgage lender HomeStreet shuts offices, lays off more than 100 full-timers – Mason added that overall, home loans are still going strong for HomeStreet. Home equity loans increased over 9% as borrowers with low interest rate first mortgages begin to access equity instead of.