Home equity levels hit a new record high over the summer, giving owners plenty of money to borrow from. Jason marz/Getty Images

Home equity levels are high. Home equity loan interest rates are low. And interest rate cuts are seemingly on the horizon. So borrowing from your home equity should be a relatively straightforward decision right now.

But that's not necessarily the case for each homeowner this September. Nor should it be. Borrowing from your home equity, after all, should always be done strategically and with care. If you borrow and ultimately find yourself unable to repay your loan, you could risk having your property foreclosed on. So it's important to make the right decision, especially this month.

Making the right choice starts with answering the right questi

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