Every way to get money out of the house, explained

Home equity line of credit

Borrow against the house and keep the upside

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6 articles, in reading order

1. 01HELOC vs. home equity investment: which one costs you lessA HELOC is usually cheaper if you can carry a payment and your credit qualifies. A home equity investment costs more later and asks for no monthly payment.
2. 02How much you can borrow on a HELOCLenders cap the line at a share of the home's value minus what you already owe. Here is the math, the ranges, and why the estimate and the final limit differ.
3. 03How long a HELOC takes, and what slows it downOnline lenders can fund in about a week. Banks ordering a full appraisal often take 4 to 6 weeks. Here is what happens in each stretch and how to keep it moving.
4. 04HELOC vs. cash-out refinance: which one to useA cash-out refinance replaces your whole mortgage at today's rate. A HELOC leaves it alone and adds a second loan. The first-mortgage rate usually decides it.
5. 05HELOC interest and taxes, in plain termsInterest on a home equity line is deductible in some situations and not in others, and the difference is what you spend the money on. The outline, without the advice.
6. 06Why your equity is a range and not a numberEquity is a modeled value minus a modeled lien. Both sides have error, so an honest number is a range, not a single dollar figure.

Home equity investment

Cash now with no monthly payment

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6 articles, in reading order

1. 01What “no monthly payment” actually meansHome equity investments advertise no monthly payment. That is true. The cost shows up later, as a share of your home's future value.
2. 02How the cost of a home equity investment is calculatedThe share percentage, the risk-adjusted starting value, and the growth of the house set what you repay. Here is the formula and what it produces under flat, slow and fast markets.
3. 03Selling a house with a home equity investment on itThe investment settles at closing from the sale proceeds, after the mortgage. Here is how the sale price sets the number, what happens if the house lost value, and how the timing works.
4. 04Buying out a home equity investment before you sellYou can end the agreement early with cash, a refinance, or a line of credit, at a price set by an appraisal. In a rising market, early can be the cheapest exit. In a flat one, waiting can cost less.
5. 05Credit under 660: what your options really areMost HELOC lenders want a 660. Below that, home equity investments and debt resolution stay on the table. Waiting can be the cheapest move.
6. 06Home equity investments and taxes, in plain termsThe cash you receive is generally not treated as income, and the settlement years later can change your gain when you sell. The outline, without the advice.

Cash offer

Sell the house fast, as it stands

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6 articles, in reading order

1. 01When a cash offer is the right call, and what it costs youA cash offer is fast and certain. You skip repairs and showings. You also net meaningfully less than a traditional sale.
2. 02How cash offers are pricedEvery cash offer starts from what the house will be worth fixed up, then subtracts repairs, holding costs, selling costs and the buyer's margin. Here is the formula and why two offers on the same house differ by tens of thousands.
3. 03Cash offer vs. listing: what you actually netA listing brings more, then gives some of it back in commissions, repairs, concessions and carrying costs. A cash offer brings less and gives almost nothing back. Here are the net numbers side by side.
4. 04The cash offer timeline, from offer to fundedMost cash sales close in 7 to 21 days. Here is what happens in each stretch, how your mortgage and any second lien get paid, when you have to be out, and what can slow it down.
5. 05Taxes when you sell, in plain termsMost people who sell the house they live in owe no federal tax on the gain, up to a limit. Here is the shape of the rule, what basis means, and how inherited houses differ. The outline, without the advice.
6. 06Cash offer red flagsMost cash buyers are what they say they are. The ones who are not share a few habits: contracts they can assign, long inspection periods, tiny deposits, and prices that drop after you sign. Here is what to look for.

Debt resolution

Reduce what you owe without touching the house

See ways to clear debt

6 articles, in reading order

1. 01Should you use home equity to pay off card debt?Moving card balances onto the house can lower the rate. It also puts the house behind the debt. Sometimes the better move is to reduce what you owe.
2. 02What debt resolution does to your creditScores often drop 100 points or more. Late marks and charge-offs stay 7 years. Recovery usually starts 12 to 24 months after settlements. Here is the shape of the damage and the rebuild.
3. 03Debt resolution vs. consolidation, counseling and bankruptcyFour ways to deal with debt you cannot keep up with. What each one pays back, how long it takes, what it does to credit, and who can actually use it.
4. 04What debt resolution really costsFees run 15 to 25% of enrolled debt, charged after each settlement. Add the interest that piles up while you wait, and the savings are real but smaller than the headline.
5. 05Forgiven debt and taxes, in plain termsWhen a creditor forgives $600 or more, a tax form usually follows, and the amount may count as income. The outline, including the insolvency exception, without the advice.
6. 06Which debts can go into a resolution program, and what can happen to themCards, personal loans and medical bills can be enrolled. Mortgages, car loans and federal student loans cannot. What enrolled accounts go through, from collections to a possible summons.