Home-equity loan as opposed to an unsecured loan

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When interest rates on loans drop, people often take out home equity loans. Research the rate of home equity loans at a local bank or credit union and at an on-line lender. Which one seems most favorable? What is the tax advantage of a home-equity loan as opposed to an unsecured loan (credit card)? What might be a danger of using a home-equity loan? Do any of you have any experiences with this you wish to share (not required)?

Brown, G., & Sukys, P. (2012). Business Law with UCC Applications Student Edition. McGraw-Hill Higher Education.

Reference no: EM131414619

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