The Burren. The Burren is an amazing place. It is a karst limestone region of approximately 300 sq km which lies in the North West corner of Co Clare, in Ireland. It is composed of limestone pavements, which are eroded in a distinctive pattern known as karren.
Home equity is the amount of money you have already paid against the value of your home. A simple formula for determining your home equity is to subtract the amount of the mortgage balance from the current fair market value of your home. In other words, your equity increases as your mortgage balance decreases.
What is a Home Equity Loan? A home equity loan â also known as a second mortgage, term loan or equity loan â is when a mortgage lender lets a homeowner borrow money against the equity in his or her home. A home equity loan or second mortgage is paid every month on top of the mortgage you already pay, hence the name âsecond mortgage.â A home equity loan or second mortgage can be a source of money to fund your major financial goals, such as paying for college education or medical bills, and can prevent building up credit card debt with high interest rates.