Three common avenues for doing so are reverse mortgages, home equity loans and cash-out refinancing. A reverse mortgage is a loan for older homeowners who have significant amounts of equity.
A home equity loan lets you borrow money using your home as collateral. You'll get a lump-sum payment and repay the loan with fixed-rate interest over a predetermined term. Some or all of the ...
A home equity loan can be a cheap way to access a large amount of cash and it can be a good idea as long as the money goes toward increasing your home's value.