Finance 101

[Anderson]

meraj said

as salaamu alaikum,

next post gets an automatic vacation. consider this warnings 1 and 2.

meraj

afrakabob said

im so sad that i am only now catching up on all the excitement of the last few pages of this thread. bahahahah

Great flame war but you're getting banned now.

[elizabethturner]

sumi said

hi.

it has been brought to my attention that many of us don't know squat about financial... stuff. and it might be easier to keep the discussion in one place since its likely that several people have the same questions that need to be answered.

so anything related to investments, loans, mortgages, equity, interest rates, budgeting, etc etc... feel free to ask and answer here.



someone please explain home equity loans to me?

and also 401(k)s?

A home equity loan (sometimes abbreviated HEL) is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home equity loan creates a lien against the borrower's house, and reduces actual home equity.

[Kona_Silat]