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term. The rate of interest applied to equity loans is much lower than that applied to unsecured loans, such as credit card debt. "A professor used to first home horizon loan me, `you can pay me know or pay me later`," McMurry says. "If you`re talking to a credit card company, the payment later`s going to be a heck of a lot more, perhaps than you think it`s going to be." Experts agree you need to make sure the numbers work in your favor rather than stack up against you. Loan modification. These first home horizon loan basically lower
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