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By , October 13, 2007 4:17 pm

The only time you should consider taking out a home equity loan is if it will increase the value of your home. While taking out a home equity loan to help pay down other debt may help in the sort term, it is not a long term solution to a debt problem. Ifyou have more questions, you can call the United Way’s helpline at 1-800-427-4626 or 2-1-1 for information about trusted community resources in the Greater St. Louis area you can turn to.