Home Asset Management Account

While most people think of stocks and bonds when investing for their financial future, homeowners sometimes overlook that their home may be their single largest investment, on average representing approximately 60 percent of their totalnet worth.

"For the majority of American fam-ilies, 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 FargoHome Mortgage. "Not surprisingly, today's homeowners are seeking improved access to and control 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 and other 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 home-owner obtains a home equity 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 homeowners to both finance their home and conveniently access their equity as needed. In fact, homeowners can tap into their equity using one of several methods that include writing a check or calling their financial institution, and in some states, by using an accesscard.

More importantly, a homeowner's accessible equity may increase as they pay down their mortgage and as their home appreciates 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 WellsFargo's Consumer Credit Group ."Homeowners now have convenient access to their equity, a lower-costway of borrowing and a potential taxadvantage.

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 mortgage or home equity products, visit WellsFargo at www.wellsfargo.com, or call1-800-222-3408 for the nearest neighborhood branch office.

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