home equity line of credit


home equity line of credit
home equity line of credit: home equity loan at loan

Merriam-Webster’s Dictionary of Law. . 1996.

Look at other dictionaries:

  • Home Equity Line Of Credit - HELOC — A line of credit extended to a homeowner that uses the borrower s home as collateral. Once a maximum loan balance is established, the homeowner may draw on the line of credit at his or her discretion. Interest is charged on a predetermined… …   Investment dictionary

  • Home equity loan — A home equity loan (sometimes abbreviated HEL) is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home… …   Wikipedia

  • Line of credit — Finance Financial markets Bond market …   Wikipedia

  • Home Equity — The value of ownership built up in a home or property that represents the current market value of the house less any remaining mortgage payments. This value is built up over time as the property owner pays off the mortgage and the market value of …   Investment dictionary

  • Home Equity Protection — generally comes in the form of a contract that pays the buyer of protection if a particular home price index declines in value. The buyer of protection is typically a homeowner that wishes to protect the value of their home [cite web… …   Wikipedia

  • Home-Equity Loan — A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner s equity and the home s current market value. The mortgage also provides… …   Investment dictionary

  • home equity credit — noun a loan secured by equity value in the borrower s home • Syn: ↑home loan, ↑home equity loan, ↑equity credit line • Hypernyms: ↑consumer credit, ↑loan …   Useful english dictionary

  • home equity loan — noun a loan secured by equity value in the borrower s home • Syn: ↑home loan, ↑home equity credit, ↑equity credit line • Hypernyms: ↑consumer credit, ↑loan …   Useful english dictionary

  • Revocable Line Of Credit — A source of credit provided to an individual or business by a bank or financial institution, which can be revoked or annulled at the lender s discretion or under specific circumstances. A bank or financial institution may revoke a line of credit… …   Investment dictionary

  • Credit card debt — is an example of unsecured consumer debt, accessed through credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.