Investing In A Home Just Keeps Getting Better (NAPSA)— While most people think of stocks and bonds wheninvesting for their financial future, homeowners sometimes overlook that their home maybetheir single largest in- vestment, on average representing approximately 60 percent of their total net worth. “For the major- The Home Is At The Heart Of Your Financial Well-Being Breakdown of an average American homeowner's assets Stocks & Mutual Business Equity & Other Real Estate Bank Accounts. \_ 5% Miscellaneous 2% 12% The Home 60% Pensions 12% Source: Top Heavy by Edward Wolff, based on the Federal Reserve's 1998 Survey of ConsumerFinances There’s a new home equity option that offers ity of American homeowners morefinancialflexibility. families, a home not only provides a place for shelter, it is their single largest source of wealth,” said Cara Heiden, executive vice president of national consumer lending for Wells Fargo Home Mortgage. “Not surprisingly, today’s homeowners are seeking improved access to andcontrol of this important asset as part of their financial strategy.” Home equity lines and loans are one option for homeowners who want access to their home investment. In most cases, these products offer a lower-cost way to borrow compared with credit cards andother loans, plus potential tax advantages. However, gaining access to equity isn’t always easy, can be time consuming and often requires additional application fees. Usually, if a homeowner obtains a homeequity line or loan, and later wants access to more of their home’s equity, typically they must reapply. Now there is an entirely new offering that combines a mortgage and home equity line of credit, all in one package. This offering, called the Home Asset Management™ Account, enables home- owners to both finance their home and conveniently access their equity as needed. In fact, homeowners can tap into their equity using one of sev- eral methods that include writing a check or calling their financial institution, and in somestates, by using an access card. More importantly, a homeowner’s accessible equity may increase as they pay down their mortgage and astheir homeappreciates in value. “The Home Asset Management Account provides homeowners a whole new level of control and flexibility with their home investment and is only available from Wells Fargo,” said Doreen Woo Ho, president of Wells Fargo’s Consumer Credit Group. “Homeowners now have convenient access to their equity, a lower-cost way of borrowing and a potential tax advantage. Customers are also notified when their home increases in value. “With a Home Asset Management Account, homeowners can finance improvements to their home, an education or medical expenses without having to liquidate other investments or dip into savings,” Woo Ho added. For more information on mort- gage or home equity products, visit Wells Fargo at www.wells fargo.com, or call 1-800-222-3408 for the nearest neighborhood branch office. This product is not available in Texas.
