What is line of credit - 10 Things to Look for in a Home-Equity Line of Credit



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Mortgage Professor about line of credit:

Which Reverse Mortgage Option Do I Choose?
October 20, 2003 "I am 75 and plan to take out a Home Equity Conversion Mortgage. My problem is that I keep vacillating between the different options. One day I think I want the credit line and the next day I think I want something else. Can you help?" I can?t give you any specific ... more...

Mortgage Relief System: Does it Work?
November 3, 2003, February 24, 2004 Postscript "I am enclosing a pamphlet I just paid $45 for called Mortgage Relief System. It promises that if I follow the scheme outlined, my mortgage will be paid down in a fraction of the time it would take ordinarily. The methodology ... more...

line of credit related definitions

Home Equity Loan
Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more...

Improvements
Improvements Home improvement is the process of renovating or making additions to one's home. Often, a professional handyman is hired to perform the improvements but, typically, most improvements are done on an amateur basis by the homeowner. Home improvement comes in many ... more...

More about line of credit

Get Free line of credit Quotes and Estimates
Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

10 Things to Look for in a Home-Equity Line of Credit
If you are a homeowner, you've probably received offers to apply for a home equity line of credit (HELOC). Handled with care, home equity credit lines can be an excellent way to improve financial flexibility, provide readily available cash reserves for emergencies, or pay for large expenses (like ... more...

Decision Time: Home Equity Loan or Home Equity Line of Credit?
Home equity loans and home equity lines of credit continue to grow in popularity. According to the Consumer Bankers Association, during 2003 combined home equity line and loan portfolios grew 29%, following a torrid 31% growth rate in 2002. With so many people deciding to cash in on their home's ... more...

Should You Get a Home Equity Line of Credit?
Let me explain why you might not want to get a home equity line of credit: I will use my friend Nadia as an example. Nadia bought her house in sunny Florida early 1998. She got a 30 years fixed interest loan and her monthly mortgage is $732, including property taxes.In those days in 1998 the gas ... more...

Shopping Home Equity Loan Rates
If you have been in your home for a number of years and you have established some equity, you may be considering liquidating some of that equity. A great way to do this would be to go with a Home Equity Loan.A home equity loan allows for you to borrow off of the equity you have established in your ... more...

Home Equity Line of Credit Loans
Home equity line of credit loans are a form of credit using one's home as collateral. Unlike home equity loans in which a homeowner receives a one-time lump sum of money, home equity lines of credit involve an approved credit limit that homeowners borrow money from.Why Get a Home Equity Line of ... more...

Why Every Homeowner Needs A Home Equity Line Of Credit
It's common knowledge that banks are more than willing to loan you money when you don't need it. But if you hit a rough spot in your financial life and need cash desperately. It's like pulling teeth to get the money you need.In other words it is much easier to get a home equity line of credit when ... more...

Home Equity Line of Credit Great Idea for Rainy Day Emergencies
Most Americans tend to live on a paycheck-to-paycheck basis, and the typical household has nearly $10,000 in credit card debt. Adding to that is the fact that Americans are saving money at the lowest rate in history. We spend what we earn, when we earn it, and theres little or nothing available ... more...

Open the Cash Vault Inside Your Home
Believe it or not, many people do not understand equity and the power it provides.In its purest form, equity is money. With regard to real estate (specifically, your house or other investment property), equity is measured in terms of the value of the property minus what you owe. So, if your home is ... more...

Bad Credit? With Poor Credit You Can Still Refinance Or Get A Home Equity Line Of Credit
Have you decided to refinance your home or apply for a home equity line of credit but worry about your credit rating? Even with poor credit it is possible to refinance your existing mortgage or obtain a home equity line of credit. New practices in the lending industry have made it easier than ... more...

Reducing Debt Through Lower Interest Loans
It happens to the majority of us, credit card debt accumulates and before we quite realize it, we are carrying a debt load that is far beyond our means. When this happens, we need to take immediate positive steps to knock down the debt as quickly as possible. One of the most efficient ways to do ... more...

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