So you need some money for unexpected expenses. The roof took on a leak, the deck rotted through and a new family addition tightened living space. You bought too much Christmas on credit now the bills are overwhelming. Junior got accepted to that Ivy League school. Tapping into your home equity can help ease your financial burden. Before deciding on borrowing ask yourself a few questions first. 1. Do I need a home equity loan or a home equity line of credit? If interest rates are low, a loan is a smarter choice. You can borrow the full amount at once ant get a fixed rate on the entire amount. The advantage allows you to know how much to budget for monthly payments. On the other hand, a line of credit will let you borrow from a revolving line of credit with variable interest rates. You access the money just like a checking account by writing a check for the purchase. Then the amount used is paid back. If the rates fluctuate, your payments will also. 2. Are there restrictions ...