equity credit line

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ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.equity credit line - a loan secured by equity value in the borrower's home
consumer credit - a line of credit extended for personal or household use
loan - the temporary provision of money (usually at interest)
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
Later, when applying for the $500,000 home equity credit line used to finance the Daniels payment, the papers say, Cohen failed to disclose $14 million in medallion-related debt.
Ditto for a term extension on their home equity credit line from Bank of America, which also solicited their application.
The fresh funds have been retrieved through a reverse merger listing on the Frankfurt Stock exchange on Monday under the name of Kampac International plc, generating 1 billion euros, and a 200-million-euro equity credit line facility with US-based fund company GEM Global, Kampac's Chairman and CEO Charles Ampofo said.
Human BioSystems (HBS), Palo Alto, CA, announced it has signed a $5 million equity credit line agreement with Dutchess Private Equities Fund, LP, of Boston, MA.
Use home equity line to pay off debt Apply for a home Moss transferred equity line of his car loan to a credit and transfer home equity credit line. credit card and He separately car loan debt since the interest paid off $5,500 would be tax deductible.
Q: What do you think about using a home equity credit line? My wife is very conservative and afraid to borrow against our home.
Any excess mortgage proceeds are not deductible except for an additional equity credit line of $100,000.
Section 311 of the draft bill would allow a member bank to extend credit to the bank's executive officers (1) in the form of a home equity credit line of up to $100,000, so long as the credit line is secured by the officer's primary residence, and (2) in an unlimited amount, so long as the loan is overcollateralized by readily marketable assets.
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).
Plaintiff alleges breach of home equity credit line agreement.
Another option would be to use a home equity credit line to payoff other debts.
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