Discuss the below in detail:
Q: When interest rates on loans drop, people often take out home equity loans. Research the rate of home equity loans at a local bank or credit union and at an on-line lender. Which one seems most favorable? What is the tax advantage of a home-equity loan as opposed to an unsecured loan (credit card)? What might be a danger of using a home-equity loan? Do any of you have any experiences with this you wish to share (not required)?
Brown, G., & Sukys, P. (2012). Business Law with UCC Applications Student Edition. McGraw-Hill Higher Education