What is the catch with 'sell and stay' home equity loans?

Sell and stay home equity loans offer a unique opportunity to homeowners, but there may be a catch. These loans allow homeowners to tap into the equity in their home while remaining in the same home. However, these loans may have higher interest rates and fees than a traditional loan, and the borrower may lose the ability to deduct the interest paid. It's important to understand the potential risks before signing up for a sell and stay home equity loan.

Written by

Ivy Silverman, Mar, 26 2023