Most people know what home equity credit lines are and most who have one know that they are usually tied to floating interest rates and may have even noticed that their most recent statements confirmed that yes, rates are going up. However, our next guest says that most people don't know that most of these home equity loans expire in ten years. Which means if you received one in 2006, you may be forced to pay it off or refinance soon which may be a big problem if your home value is still suffering from the effects of the Great Recession.
Mike Switzer interviews Catherine Latto, a certified financial planner in Charleston, SC.
