(hilɒk) or Home Equity Line of Credit
abbreviation(
Finance: Mortgage)
A HELOC is an additional loan secured by a residence as well as the original mortgage.
Homeowners take out a HELOC as a method to consolidate debt.
When a person takes out a HELOC loan and purchases something, this certainly adds to the money supply.
A HELOC is an additional loan secured by a residence as well as the original mortgage.