HELOC - Home Equity Lines of Credit
February 23, 2009 by admin
HELOC - Home Equity Lines of Credit
HELOC stands for “Home Equity Line of Credit” or, put more simply “home equity line.” A HELOC is a loan that is set up to have a credit line equal to some maximum amount instead of a fixed amount. It is similar to a credit card in that you have a certain amount of money available to you, but you don’t need to use it all at once.
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