In recent years, the concept of leveraging home equity has gained popularity as homeowners seek ways to finance major expenses or investments. While tapping into the equity in your home can be a viable financial strategy, it comes with its share of risks. In this blog, we will explore the potential pitfalls associated with using home equity and provide valuable advice on responsible utilization, emphasizing the importance of understanding terms and conditions. Understanding Home Equity Before delving into the risks, let’s first understand what home equity is. Home equity is the difference between the current market value of your home…