You must be certain that the dangers do not outweigh the advantages of this type of loan. Maybe you really want to go on that expensive trip, but your credit cards are all maxed up. It's probably preferable to focus on the credit cards before the trip, but you can also pay off the credit cards and other obligations using the truthinequity Loan guide. Just make sure you don't lose control of the cards again.

Here are some of the most important home equity loan risks to consider:

• Your Home Could Be at Stake
• You’re Taking on More Debt
• You’ll Still Have to Pay the Closing Costs and Fees
• What If You Go Underwater?
• Equity Reduction on Your Home
• The Hit to Your Credit Score