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What You Need To Know About Home Equity Loans
Posted by nick_niesen on October 29th Trayvon Mullen Womens Jersey , 2010


A home equity loan is a popular and attractive source of borrowing for thousands of people. Part of the reason people think first of a home equity loan when they need a substantial sum of money is that home equity loans are marketed extensively, with advertisement in every medium.


Lenders love home equity loans because they are highly risk free. Therefore, a home equity loan is easy to get and offers one of the best interest rate of any type of high end loan.


A home equity loan is attractive for consumers, not only because of the low interest rate but because that interest can be deducted from income taxes. The outlook isnt completely rosy for consumers who are considering a home equity loan, however.


With any home equity loan you can borrow only up to 80 percent of the equity youve accrued in your home at the time of your loan application. If Johnathan Abram Womens Jersey , for example, your homes current market value were 150,000 and the balance on your mortgage was 70,000 you could borrow 80 percent of the 80,000 equity Josh Jacobs Womens Jersey , or 64,000.


Consumers should not make the decision to take out a home equity loan lightly. Nor should they borrow to the maximum 80 percent just because they can. Borrow only what you have to have.


Not only will this save you money in the long run but a loan officer who sees you being foolish about your willingness to put yourself in debt and your home at risk may think twice about your having the responsibility to pay back your mortgage - and on time.


Sometimes a home equity loan is used foolishly for a vacation or toys such as boats and other things that the consumer could really do without. The borrower assumes that their home will appreciate in value over the term of the loan so it really isnt like borrowing or paying interest, is it?


What if the home doesnt appreciate? What if the local mill or factory or other major employer closes down and the town loses a big chunk of property taxes and people move it and then the retail shops lose money and so forth and so forth. If you dont live in the Mid-Atlantic States or the rust belt talk to people who did or do. Hear what they have to say about the likelihood of this occurring.


No matter where you live downsizings, mergers, company closures Clelin Ferrell Womens Jersey , layoffs and buyouts are commonplace. There is just no way to predict that your home will appreciate, your job will be secure and youll be financially better off at the end of the loan and throughout the life of the loan.


A home equity loan, while often a wise thing, and a necessary action, shouldnt be taken on for frivolous desires.


There are occasions Authentic Howie Long Jersey , such as lowered home mortgage interest rates and to get out from under high interest unsecured loans such as credit card debt when a home equity loan can save you money and improve your credit standing. When this opportunity arises, assuming you have the equity and can afford the payments, a home equity loan can be a very wise decision.


In Las Vegas this week you can learn a lot about the exciting potential of artificial intelligence. You can also be left wondering whether AI is a triumph of marketing, yet to deliver real improvements to the economy and the way we live.


One of my first stops here was at a University of Las Vegas robotics lab. Scientists there were working on projects ranging from drones to virtual reality, but they were also collaborating with the team behind one of the stars of the robot world Authentic Bo Jackson Jersey ,


Sophia is a humanoid robot with a face that strays dangerously close to that "Uncanny Valley" where machines look just a little too human for comfort. She achieved fame and some notoriety when Saudi Arabia named her its first robot citizen, a stunt which saw many question whether machines were now being given freedoms denied to Saudi women.


Sophia is the work of Hanson Robotics, an American firm with a base in Hong Kong. We had come to see her take her first halting steps on legs which are the work of this university lab.


Then it was time for a handshake and a chat, with Sophia responding remarkably articulately to my questions - though I should say she'd had advance notice of what I'd ask.


In many ways, this a hugely impressive project combining expertise in robotics Authentic Marshawn Lynch Jersey , speech recognition and machine learning developed by American and Chinese scientists.


But when I ask what practical purpose she serves, Hanson Robotics founder David Hanson is somewhat vague, mentioning work with autistic children and a role as a work of art.


He is, however, a man with a startling ambition to use Sophia as a platform to achieve the holy grail Authentic Karl Joseph Jersey , Artificial General Intelligence where machines can outperform humans at any intellectual task.


He admits she is, in many ways, about as intelligent as an amoeba at present, but is hopeful that as she interacts with humans she will learn and grow. "Our aspiration is to bring the machines to life," he tells me.


It's a vision that will be met with scepticism by scientists who think the humanoid path is the wrong route for AI Authentic Eddie Vanderdoes Jersey , and with fear from those nervous about killer robots.




Elsewhere we find more immediate attempts to turn AI into saleable products. Voice-controlled devices are everywhere, with Amazon's Alexa now facing a more sustained challenge from the Google and its Assistant. The two giants seem convinced that our homes will soon echo to the sound of people yelling orders at everything from the light switches to the microwave.


And out on the Las Vegas streets the battle to prove self-driving cars are imminent is in full swing. I hitched a ride in an autonomous taxi, a collaboration between Uber rival Lyft and the technology firm Aptiv which has bought up AI teams from both Carnegie Mellon and MIT.


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