If you're a homeowner and have already paid off your mortgage you entitled to get a Home Equity Loan. The equity can be used as a lump sum or it can provide you with a monthly income.
Just think what you can do if unlock the equity in your home:
new car, a new holiday, home improvements or a better lifestyle.
There are some great options regarding the types of plans on offer. One option is a home income plan. This takes a out a loan using your house as security. Another option is to use an interest only loan or mortgage. With this option you can pay back any interest each month. This way the capital is paid back when you sell your house.
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