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What is a "Home Equity Line Of Credit": HELOC
http://propertysold.ca discusses Home Equity Line of Credit, also known as a HELOC. A "Home Equity Line Of Credit" is a loan that is secured by a property. Home owners can borrow money at a lower interest rate than credit cards, or personal lines of credits. Home owners can borrow money based on the equity available in their home.
Related topics : line of credit home equity loan rates
New Mortgage Rules For Canada Home Lines Of Credit: Government Insurance
http://propertysold.ca The Canadian Government announced on Jan 17th, 2011 that they will no longer be offering banks insurance on Home Equity Lines Of Credit for Canadian home owners. This could make it more difficult to qualify for a HELOC, or perhaps higher interest rates on lines of credit secured against a home. These new rules come info affect on April 18th 2011.
Related topics : line of credit home equity canada
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