bud
Joined: 09 Mar 2003
Posts: 2111
Location: New Jersey, US
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 Posted: Thu Feb 24, 2005 11:14 am Post subject: |
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Hi Lucia,
1. That's tricky. I think it is supposed to be "are," but you will often hear "is." Most often you will hear it as "There's a stove..." I'd most likely use "There's" rather than "There are," even knowing it is perhaps technically wrong. It just sounds better.
2. I can't explain the details, but it is a kind of savings account (or CD - certificate of deposit) that yields a little more interest than a regular savings account.
3. It is a type of home mortgage known as a second mortgage. Maybe you bought your house 4 years ago for $100,000, and financed it in part with a $75,000 mortgage. Today the house is worth $125,000, and you have paid off $5,000 of the mortgage with your monthly payments. Your equity in the house - the value of the house minus what you owe on it - is $55,000. You can now get a home equity loan for as much as $55,000.
Hope that helps. |
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