home equity credit

Also found in: Thesaurus, Financial.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.home equity credit - 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)
References in periodicals archive ?
WASHINGTON Its 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?
3 million home equity credit lines totalling USD158bn are scheduled to reset between 2015 and 2018.
Ditto for a term extension on their home equity credit line from Bank of America, which also solicited their application.
For example, only about a third of people questioned said that they understood "very well" such things as the overall qualification process; fees and charges; the role of private mortgage insurance; and the option of home equity credit.
Nonetheless, the model clearly reveals the strong connection between home prices and home equity credit since the late 1990s.
Beginning in Spring 2008, Bank of America, Citibank, JP Morgan Chase, Morgan Stanley and the now-defunct Countrywide and Washington Mutual cancelled or reduced home equity credit lines in various parts of the country, including in Oregon.
Low appraisals can also result in homeowners' home equity credit lines being seized, as happened to the owner of one 2,650-square-foot Manhattan apartment appraised at $1.
Spending overall from consumers may slow down for a number of reasons, including increased energy prices and an exhaustion of home equity credit lines that have been spent to the maximum by many consumers.
These micro data studies clearly demonstrate historical trends in the use of home equity credit and are useful in identifying changes within the total population that impact borrowing among subgroups.
Mary & Carlton Warner THE ADVICE THE FOLLOW-THROUGH: Reduce debt payments Use home equity credit The Warners used line to pay their credit line to off $13,000 car loan.
Q: What do you think about using a home equity credit line?
Reduced mortgage and home equity credit availability

Full browser ?