http://www.pushingforpayday.com/equity-loan.html An equity loan will be HUGE, much bigger than any payday advance. So can an equity loan be used for financial emergencies? Do you have time to waste on an equity application? en-us Thu, 15 May 2008 17:00:00 EDT Thu, 15 May 2008 17:00:00 EDT Weblog Editor 2.0 When you're in the midst of Pushing For Payday, you will probably look only at the fast acting financial tools. The personal loan, the cash advance, the loan against your paycheck that will arrive, guaranteed, before your next payday - you need money fast, you don;t have time to wait for assistance that will reach you in a few weeks. Unless, of course, you planned ahead and applied for your assistance long before the emergency ever presented itself. If you own your home, there is one way to have a reliable source of fast emergency assistance any time you need it. Making an equity loan work for emergencies An equity loan? How in the world can home equity help you out of a short-term financial emergency? They're too big - most short term emergencies are only for a few hundred dollars, while equity loans usually demand a minimum amount of around $7500. They demand a lot of time, years and years in the repayment and for what - a demand you need taken care of in a few days? Thats too much devoted to too little. And the application process alone usually takes a couple days - by the time you're approved you'll already have your paycheck, and the emergency situation will have diffused itself...or exploded right in your face. All this is true, but there is one form of equity loan that might help you through any cash crisis. Its called a Home Equity Line of Credit (commonly referred to as a HELOC), and basically it functions a s a secured credit card. Any time you need money, for whatever reason, you can access the funds form your HELOC and that money will be in your account faster than you can say " Show me the money!" And the term of a HELOC is usually 10 years, meaning you can apply, sit on the balance until you actually need the cash,m then access it without worrying about the repayment until that ten year term is up . So apply for that equity loan now, that HELOC, and feel safe in knowing that you have emergency resources on your side. Its more affordable and stable that any unsecured loan, yet the money will be just as effective in helping you push toward that distant payday. Thu, 15 May 2008 17:00:00 EDT