Home equity loan or HELOC vs. reverse mortgage: Which is right for you?
They all let you tap your ownership stake, but they differ significantly in a lot of ways.
13 min read
Feb 24, 2025
Erik J. Martin
Contributor, Personal Finance
EXPERTISE
- Personal finance
- Mortgages
- Housing market
- Home improvement
- Credit cards
EDUCATION
- Bachelor of Arts, Loyola University Chicago
- Dale Carnegie Training
Erik J. Martin is a contributor to Bankrate covering personal finance, including mortgages, the housing market, home improvement and credit cards. Based in the Chicago area, he is host of the “Cineversary” podcast and blogs on Cineversegroup.com and Martinspiration.com.
In addition to Bankrate, Martin has contributed to AARP The Magazine, Tte Chicago Tribune, Reader’s Digest, The Costco Connection and USAA, among other outlets.
Erik J.'s latest articles
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Common real estate contingencies and what they mean
Many types of contingency clauses can be added to a real estate contract.
5 min read Feb 24, 2025 -
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Mortgage loan modification: What it is and how to get one
If you can’t pay your mortgage, you may be able to have it modified. Here’s what to look for.
7 min read Feb 17, 2025 -
Mortgagor vs. mortgagee: What’s the difference?
They sound almost the same, but actually refer to parties on the opposite ends of a home loan.
2 min read Feb 13, 2025 -
How a HELOC can advance your business
It can be easier for an entrepreneur to get, but it means hocking the home for your enterprise.
10 min read Feb 10, 2025 -
What does a real estate attorney do?
A real estate attorney can protect the interests of both buyers and sellers.
5 min read Feb 10, 2025 -
How to get a mortgage when you’re self-employed
The process of getting a mortgage while self-employed isn’t all that different, provided you meet the lender’s requirements.
6 min read Feb 10, 2025