Is it possible to sign up for a true home Equity Loan on a paid down House

Is it possible to sign up for a true home Equity Loan on a paid down House

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Yes, homeowners with paid-off properties who will be thinking about accessing home equity to fund house improvements, debt consolidation reduction, tuition or home repairs can leverage their equity through most of the tools that are same mortgage-holding property owners use. This consists of house equity loans, HELOCs and cash-out refinances. We cover what is unique concerning the procedure for getting equity from a reduced house along with what to bear in mind before using for funding.

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