In 2005 the value of home equity across the US was $11.3 trillion. The percentage of home ownership in 2005 was 69% down slightly from the record 69.2 % in 2004. Almost 124 million Americans own their own home. There is plenty of money available to lend for Home Equity Loans.

Where there is a lot of money there is usually problems and abuse. Scams can abound. Unscrupulous lenders can take advantage of the unsuspecting. Like any other major purchase the burden has to be on the customer.

You have to do your homework and shop for the best deal. The Internet offers some great advantages to comparison-shopping but like anything else on the Internet you have to have your eyes open.

Home equity loans provide the fuel that keeps the economy going. There is virtually no limit as to what the money can be used for-travel and vacations, debt consolidation, college expenses, medical bills, home improvements, the list goes on and on. Just remember where the money came from.

Your home is the security for the loan. If things go south, you lose your job, the market takes a turn like it did recently, home are devalued-stuff happens-you could end up losing your home. So careful consideration needs to be made before signing on the dotted line for a HOME EQUITY LOAN.