You need to come up with some cash, fast. Maybe you have a leaky roof that desperately needs fixing or you need help paying for your kid’s first semester of college. But where do you turn?
If you’re a homeowner, you have options that involve tapping into your home equity—the difference between what your home is worth and how much you owe on your mortgage.
There are three main ways to tap into home equity, but sorting through those options can be confusing. Here’s how to determine which is right for you.