Home equity line of credit

A home equity line of credit (often called HELOC and pronounced Hee-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house (akin to a second mortgage). Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day...

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From: Audiopedia

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Florida Home for Sale: Foreclosure Sales - Properties in FL

http://www.StartHouseHunting.com Thinking about Florida foreclosures by county? There are facts you need first! You could save even more buying a foreclosed property from the lender who holds the defaulted mortgage. If your home has equity, you may use a home equity line of credit for a foreclosure, and when it is converted into a mortgage, you may not need a down payment. Get an idea for yourself - Visit StartHouseHunting.com today to see the Florida foreclosures free available nationwide!

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From: tillic2401

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