A home equity line of credit, also known as a HELOC, is a line of credit secured by your home that gives you a revolving credit line to use for large expenses or to consolidate higher-interest rate debt on other loans Footnote [1] such as credit cards. A HELOC often has a lower int...
Home Equity Line Of Credit: The HELOC is the abbreviation used for the home equity line of credit. The HELOC is defined as a kind of loan under which the lender agrees to pay the maximum amount to the borrower depending upon the house used as the collateral...