HomeEquity

Becoming a homeowner is a rite of passage in America, while renting gets no respect. But when you look at how we really live, it turns out that, even ignoring the recent crash, home ownership isn't the great deal for our finances that we've been led to believe.

Ben Bernanke says declines in home prices have forced many Americans to cut back sharply on spending warns that the trend could continue to weigh on the economy for years. The Federal Reserve chairman drew the connection between home values and consumer spending, which fuels 70 percent of economic activity, on Friday during a speech to the National Association of Home Builders in Orlando.

The two biggest banks in the reverse mortgage business are getting out of it. Now, Bank of America and Wells Fargo accounted for less than half of the reverse mortgages in America, and other lenders are still writing them. But seniors in financial trouble should explore theses alternative ways to stay in their homes.

In the morass of glum housing news, there is one bright spot: Tantalizing low mortgage rates are continuing to entice more homeowners to refinance. The number of applications to refinance has tripled in the past year, says the Mortgage Bankers Assn. Refinance applications soared 18% in the week...

AOL Money & Finance writer and editor Zac Bissonnette is a sophomore at the University of Massachusetts Amherst, and an expert on getting a great education without going broke. Got a college question? Leave a comment and he'll get back to you!JPMorgan Chase is dedicated to helping you pay for...

The unchecked use of homes as ATM machines has left many home owners in the uncomfortable position of being former home owners.Now that they're out equity and have little left to be milked for fees and interest, the big banks have turned to another group: people who have been responsible, paid off...

Many homeowners have a home equity line of credit (HELOC) available to them. Some have used the equity lines to make improvements or consolidate debt. Others have not used their line of credit, but keep it open in case of emergency of for renovations down the road.But Money Magazine is now...

I'm not a big fan of debt, especially if you're already swimming in it. Debt is something that should be used very carefully and strategically. A home mortgage is fine if you're in a house you can afford and you're able to make payments on time. Credit cards can provide you a short-term line of...

I'm likely a few years off from grandparenthood, but I can't stop fretting over the downturn's lasting impact on college financing. One primary financing vehicle (piggybank, if you will) -- home equity loans and lines of credit -- ain't what they were mere months ago, as falling home values and...

While a recession creates many economic woes, those who are in the market for a loan (mortgage or otherwise) can often find value during these times. Here are a few suggestions for taking advantage of opportunities and hedging your bets.Rates are low. In an effort to calm recession fears and boost...