New York, NY (PRWEB)
June 23, 2016 - National Debt
Relief recently shared in an article published May 13, 2016, how
homeowners seems to have an advantage when it comes to financial stress.
The article, titled “How To Overcome Financial Stress? Be A Homeowner,”
looks at some of the things that helps people who owns a home deal with
financial stress better.
The article starts off by explaining that
being a homeowner seems to have a positive effect when dealing with
financial stress. Apart from the fact that owning a home puts a consumer
in a better financial position than someone who rents, they are also
able to use their homes to deal with financial stress.
One way they are able to do that is the fact
that they know they are adding on to their equity every month. Paying
rent every month only makes the landlords or the people who owns the
house richer and that is a never-ending cycle. Homeowners know for a
fact that every payment they make every month is an investment on their
part and after a definite number of years, the house will be fully paid
and the payments will stop.
The article also points out that homeowners
are increasing their net worth every payment they make every month on
the house. This is because they add on to the equity they own on the
property which in turn can be considered as part of their assets. As
their worth increases, they will feel less financial stress because
consumers know that they are making their finances more stable.
The house also serves as an emergency
financial backup since homeowners can borrow against their equity.
Referred to as HELOC or Home Equity Line Of Credit, consumers can access
the amount they have paid up to the lender for emergency situations
such as home repair, medical and even for loan consolidation. This can
even give them the chance to enjoy a low interest rate since the house
is still used as collateral .
To read the full article, click https://www.nationaldebtrelief.com/overcome-financial-stress-homeowner/
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