Need some money? Want lower interest rates? Then a home equity line of credit or HELOC may be the answer for you. It is a mortgage loan that homeowners can use as-needed. Any lender like a bank will review and approve it for a specific amount based on the amount of equity you have available on your home. You will need to complete some paperwork to get the loan authorized.
This line of credit will be available to you and you will pay no interest until you start spending funds. When you pay back the amount spent, the full original amount of the HELOC becomes available again. CONTINUE READING--->