home equity credit

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  • noun

Synonyms for home equity credit

a loan secured by equity value in the borrower's home

References in periodicals archive ?
Nine homeowners from California, Illinois and Texas are challenging JP Morgan Chase on issues surrounding the cancellation of their home equity credit lines.
But a home equity credit line can be a boon if used judiciously.
Another option would be to use a home equity credit line to payoff other debts.
Overly broad rules could unnecessarily burden the entire home equity credit industry in an effort to regulate a minority of unethical or dishonest players.
Transfer credit card bills: If you have access to a home equity credit line, use that to pay off your credit card debts.
Interest paid on home equity debt (for example, a second mortgage or home equity credit line) incurred after October 13, 1987, and secured by a qualified residence is deductible as long as the home equity debt does not exceed the lesser of $100,000 and the taxpayer's equity in the home (the home's fair market value less the acquisition debt).
WASHINGTON u ItEs a big and confusing question for many homeowners in the wake of the December tax law changes: Are new interest-deductible home equity credit lines (HELOCs) and second mortgages now totally out of reach going forward?
That appears to be the strategy for growing numbers of owners across the country who have begun taking out home equity credit lines at an accelerating pace.
Providers should begin to ramp up their home equity credit marketing efforts focusing on the more popular purposes for which this product can be used," notes William H.
Global Banking News-20 April 2010-BoFA says it has cut off home equity credit lines of Countrywide customers(C)2010 ENPublishing - http://www.
Plaintiff alleges breach of home equity credit line agreement.
As a homeowner, there are several convenient financing options available including using a home equity credit line; taking out a second mortgage; or refinancing your first mortgage and cashing out your equity to purchase the fee.
Financial Snapshot: Mary & Carlton Warner HOUSEHOLD INCOME Carlton (full-time) $40,000 Mary (part-time) 12,500 Total $52,500 ASSETS Market Value of Home $74,000 403(b) 40,000 Thrift Savings 12,000 Mutual Fund 10,000 Roth IRA 7,900 401(k) 4,000 Credit Union 2,000 Savings 1,500 Checking 400 Total $151,800 LIABILITIES Home Equity Credit Line $50,000 Car Loan 13,000 Credit cards 4,300 Child's Tuition 5,000 Marlow Stores 1,400 Victoria Secret 400 Total $74,100 Net Worth $77,700
If you get a home equity credit line, you could even get a deduction for the interest.
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