What you need to know before taking out a home equity loan or borrowing from your 401(k)
Interest rates are at record lows.
This may make the idea of borrowing money more appealing to the millions of Americans who lost their jobs or were furloughed because of the coronavirus shutdown.
Two common assets that people often look towards when they need large sums of cash are their home’s equity or their 401(k), but both options will have drawbacks.
Winnie Sun, co-founder of Sun Group…
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