apartmentof the nternal Rew enue Senice Your name VANING p a 1998, mLAm ch t — ron in which eape 1) Occupatio nses wer TURE” ia "ey Y Use A HomeEquity Loan To Your Best Advantage (NAPS)—The number of American families owning their own homes reached a record 67.7 percent in 2000, or nearly 72 million households, the Department of Housing and UrbanAffairs reports. Americans havebuilt up bil- lions in equity in their homes, yet many homeowners maynotrealize they can take advantage of competitive lending rates and may save on taxes. Home equity loans, which can often reduce your overall tax bur- den, can be used to finance such items as: debt consolidations, home improvements, major home COMUNE HOME EQUTYCoANS Muonremowae Til Apply for a home equity loan or line of credit online and know within seconds whetherit’s been approved. homeowners to expedite transac- purchases, buying a car, medical expenses, travel or education. Homeownersare able to borrow up to 100 percent of the available equity of their home (except in the sumeronline services in 1989 and has since added a wide range of row up to 80 percent) and the interest on their home equity Gomez Advisors and Nielsen/Net Ratings recently named Wells state of Texas where they can bor- loansor lines of credit may be tax deductible. Your tax advisor can offer the best advice. Manyfinancial institutions offer home equity loans through bank branches and online. Wells Fargo offers real-time decisions on home equity applications through its leading Web site, wellsfargo.com. This new service enables consumers to receive an answer within seconds of submitting a loan application. As a technology leader in Internet banking, the site provides cus- tomizable home equity solutions to meet customers’ financial services tions and obtain funds they need to become morefinancially successful.” Her company introduced con- easy-to-use online services. Both Fargo the top Internet bank in terms of market share (14.4 percent) and total monthly Web site visitor count: nearly 2.5 million online customers. To apply for a home equity loan or line of credit online, consumers can visit the home equity area of Wells Fargo’s site at www.wells fargo.com and fill out an online application. Consumers can use the home equity, loan payment and equity line paymentcalculators to quickly see how much theyareeligible to borrow, and what their monthly payments would be. Within seconds, the consumer Doreen Woo Ho, president of Wells will receive a response indicating if the application has been approved, denied or requires further review bya loan officer. If the loan that the home equity products that we offer through wellsfargo.com will be contacted by a Wells Fargo loan officer within 48 hours to needs, how, when and where they want. “Bybricksor by clicks, we’re here for our customers,” said Fargo Home Equity. “We’re finding are making it more convenient for is credit approved, the applicant finalize the loan closing process.
