You can tap into the equity in your home by getting a home equity loan or 'second mortgage.' Some homeowners will get a home equity line of credit, on which they can write checks to get money as they need it rather than getting a lump sum. Keep in mind that your home secures a home equity loan or line, just as your primary mortgage does. This means that if you can't make the payments, the lender can foreclose on your home. Make sure you can keep up with any payments you agree to. Beware of taking out too much equity, since a downturn in the real estate market could leave you owing more than your home is worth.

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