How lenders are marketing home equity products

Home equity lending has continued to become increasingly significant to banking consumers and typical financial institutions as evidenced by the 11.6% growth of this service in 1997 alone. Home equity lending makes for low delinquency and foreclosure rates which are advantages that have made the service so attractive to financial institutions. Consumers desire such loans for they have interest rates which are lower than most other types of consumer loans and they can be deducted from income taxes.