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Why would someone take a Home Equity Loan? The answer is simple. To take on secured debt instead of unsecured debt. Allow us to explain the difference.
Secured debt is debt secured to property, such as a mortgage or a home equity loan. This type of debt doesn’t impact your credit score the same way Unsecured Debt does.
Unsecured debt is things like credit cards and personal lines of credit. These products deeply impact a borrowers credit score. By moving your unsecured debt over to the secured side, it will positively impact your credit score and get you back on track to a debt free life.
Find out more by visiting http://www.MakeMoneyCount.com
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