y of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refus

A recent survey showed that over 90% of Americans who own a home consider their equity in their primary residence as the most important financial asset. This national survey released last month, revealed that quite a few homeowners forget to use their home as a “useful financial management tool.” This indicates a gap in many US citizens in how they understand the abilities of utilizing a secure asset like a home. The study also indicates that many people may not understand the capabilities and best use of a refinancing or taking out a home equity loan as a second mortgage.

The survey cited a retiring couple and asked them if it would be wise to use a 2nd mortgage or refinance loan to consolidate credit card debt. However, depending on their future plans and expected financial situation, there may be various mortgage solutions that, in fact, help them manage and achieve their changing financial goals. The home equity study was conducted in October, 2006, by Harris Interactive(R) by the request of Countrywide Home Loans, Inc.

While many homeowners micro-manage their investments, many are not using their home mortgages as a practical financial tool. Many Americans believe that they are fixed to their original loan and miscalculate their ability to refinance their existing mortgage let alone add a new home equity loan for reducing debt or financing home improvements. The survey indicates that many of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refuse

rstand the abilities of utilizing a secure asset like a home. The study also indicates that many people may not understand the capabilities and best use of a refinancing or taking out a home equity loan as a second mortgage.

The survey cited a retiring couple and asked them if it would be wise to use a 2nd mortgage or refinance loan to consolidate credit card debt. However, depending on their future plans and expected financial situation, there may be various mortgage solutions that, in fact, help them manage and achieve their changing financial goals. The home equity study was conducted in October, 2006, by Harris Interactive(R) by the request of Countrywide Home Loans, Inc.

While many homeowners micro-manage their investments, many are not using their home mortgages as a practical financial tool. Many Americans believe that they are fixed to their original loan and miscalculate their ability to refinance their existing mortgage let alone add a new home equity loan for reducing debt or financing home improvements. The survey indicates that many of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refus

redit card debt. However, depending on their future plans and expected financial situation, there may be various mortgage solutions that, in fact, help them manage and achieve their changing financial goals. The home equity study was conducted in October, 2006, by Harris Interactive(R) by the request of Countrywide Home Loans, Inc.

While many homeowners micro-manage their investments, many are not using their home mortgages as a practical financial tool. Many Americans believe that they are fixed to their original loan and miscalculate their ability to refinance their existing mortgage let alone add a new home equity loan for reducing debt or financing home improvements. The survey indicates that many of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refus

ers micro-manage their investments, many are not using their home mortgages as a practical financial tool. Many Americans believe that they are fixed to their original loan and miscalculate their ability to refinance their existing mortgage let alone add a new home equity loan for reducing debt or financing home improvements. The survey indicates that many of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refus

y of these Americans may consider their mortgage as lifelong debt, rather than a financial tool. Dan Hanson, managing director of Countrywide Home Loans stated that, "There's a prevalent misperception about mortgages that may prevent many Americans from realizing their home's full financial potential.”

There will always be some homeowners who refuse to consider their home’s security as a financing tool for taking out home equity loans and credit lines. The study concluded that “6 out of 10 homeowners would consider tapping equity as a source of funds and 70% of those say they would use the money for home improvements.” "There is a sense that many people are pulling cash out of their homes to pay for luxury items, but our survey found the opposite to be true," said Hanson. "In fact, most Americans are quite conservative and do not want to be heavily leveraged. While that is a positive trait, it also showed us that there is still room to educate homeowners about ways to make their home's financing work to their greatest advantage."