http://www.onthemortgagefront.com/home-equity/home-equity-loans/california-home-equity-loans/ California home equity loans are just huge - thats it, they're huge. No other state can match California home equity loans for their sheer gigantism. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Anyone living in California and applying for California home equity loans, know this - there is tons of money to be hand: Lets say the average California home is about $400,000 ( a modest estimate) Now, imagine you live in your house for the five years under the current annual appreciation rate of about 20% After 5 years your home will be worth approximately $800,000, and $400,000 is equity, plus whatever amount of the loan principal you paid off. $400,000 in California home equity loans? You gotta be kidding me! but its not just possible, its the reality for California home owners On the Mortgage Front. Getting the most from California home equity loans The problem isn't qualify for California home equity loans, its resisting the temptation to spend hundreds of thousands of dollars in stupid, inappropriate ways. But stupid and inappropriate are California past times, and the use of California home equity loans shows just that: People apply for more in their California home equity loans than they can afford, forcing repeated refinancing options just to keep pace with their high cost lifestyles. And these California home equity loans aren't being spent on home improvements, investments, or debt consolidation. Think plastic. Think implants and trips to New York. Think sports car and you're on the right track. In the land of milk and honey people are pouring honey all over themselves - and they get stuck. A hard way out Once you apply for California home equity loans you're stuck with them until you pay them off. Now, as we already hinted at people pay off these immense California home equity loans in two ways: Over time through the gradual evolution of monthly payments at the cost of savings and denying themselves the California lifestyle they know and love, and Rolling their California home equity loans and purchase mortgages into one big refinance - interest only, ARMs, whatever it takes to keep the costs low. And they get away with it! They keep taking out hundreds of thousands in California home equity loans and they keep putting off the repayment of their loan principals for years and years. How can they do it? Becvause their homes are still appreciating at the astounding 20% - they will still have tons of money remaining after the sale of their home to pay back all their loans and walk away happy, wealthy and dumb. Sat, 26 Jul 2008 15:00:00 EDT