If you are a homeowner in need of cash for any reason, you might consider borrowing against equity in your home. Equity in your home is an excellent source of secured credit; here are the basics of how home equity loans work.

If you borrow against equity in your home there are no limitations on what you can or cannot do with the money. You can use the cash to pay for your child's college, remodel your home, or pay off your bills. You can even take a European vacation. Needless to say, some uses are better than others, but it is after all, your money