Is taking out a home equity line of credit (HELOC) a smart way to pay off debt?

HELOC Alternatives

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If you’re worried about the risks of a HELOC, there are other options to explore for accessing your equity. These include home equity loans, which offer a lump sum payment of equity, cash-out refinances that replace your existing mortgage with a new one, reverse mortgages, a loan in which the lender pays you, and a home equity investment, a smart new loan alternative that doesn’t add more debt or monthly payments.

If you’re looking for a solution that doesn’t add to your additional debt or requires you to make monthly payments, a home equity investment from Hometap might be a good fit for you.