home-equity loan


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Related to home-equity loan: Home Equity Line of Credit

home-eq·ui·ty loan

(hōm′ĕk′wĭ-tē)
n.
A loan or credit line that is secured by the equity the borrower has in a home.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
References in periodicals archive ?
The mortgage company I am talking to tells me I must get my home-equity loan lender to subrogate their loan to my new mortgage.
For many, the better alternative will be to tap into their home-equity through a closed-end home-equity loan or open-end HELOC.
Using a home-equity loan to finance personal expenses often results in an after-tax borrowing cost that is better than a credit card or unsecured bank loan.
Another indicator of the softening in home furnishings buying: home-equity loan use.
Rosette loaned her $17,000 from savings and $30,000 from a home-equity loan. Over the next five years, she chipped in an additional $100,000 from her school-teacher's salary.
* Consolidate debts with a home-equity loan. Personal interest--e.g., credit cards and car loans--is not deductible.
Another bank that has successfully marketed home-equity loan products to mortgage customers is Lafayette Bank and Trust Co., Lafayette, Ind.
Timothy Campbell, Citigroup's senior vice president and director of government relations, gave this example: "When you understand how America's system of credit and obtaining credit is set up, your ability to pick up your phone and call a bank and get a mortgage or home-equity loan unsecured almost instantly is incredible," he said.
According to SMR Research Corporation, Hackettstown, New Jersey, $988 billion in home-equity loan and line receivables existed in 2009--$740 billion of which was associated with home-equity lines of credit (HELOCs) and $240 billion associated with second-lien home-equity loans.
For the second consecutive year, Charlotte, North Carolina-based Wachovia Mortgage Corporation ranked highest in satisfying customers who recently obtained a home-equity loan or home-equity line of credit (HELOC), according to a study by J.D.
Secured Funding is now able to automate its entire home-equity loan process from origination to closing, enabling the lender to offer brokers and borrowers a complete electronic mortgage, according to Lorne Lahodny, chief executive officer and co-founder of Secured Funding.
29 in Texas' 212th District Court, found that Ocwen Federal Bank, West Palm Beach, Florida, engaged in unfair, unlawful and deceptive business practices in servicing the home-equity loan of Sealy Davis.