Home equity line of credit

Line of Credit

Home equity line of credit is a mortgage loan in which
the collateral is the available equity in a property, It could be a first or second mortgage

If it is a second mortage, the lender doesn’t necessarily have to be the lender which facilitated the first mortgage loan.

A home equity line of credit can be used to finance business, or consolidate commercial and credit card debts, students tuition, funeral expenses, business cash flow, vacations and more

 

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