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  • Second mortgage debt relief options include debt settlement

Second Mortgage Debt Relief Options

Home equity loans and home equity lines of credit (HELOC) are good options for many people that have equity in their home and want to leverage that equity to cover additional expenses.  The primary advantage of these types of loans is that they typically have a much lower interest rate than other types of loans, or lines of credit, because they use the home to secure the debt.

Unfortunately, if the […]

October 11th, 2016|Tags: , |
  • A HELOC is a home equity line of credit.

What is a HELOC?

A HELOC (home equity line of credit) is a revolving line of credit issued by a lender using the borrowers home as collateral.   Similar in some ways to a credit card, the HELOC allows the borrower to use and pay back money as needed up to the credit limit.

The size of the line of credit issued for a HELOC depends on a number of factors including the borrower’s credit score and the amount of home […]

October 3rd, 2016|Tags: , |