Question

 Are home equity credit lines bad?

Answer On One Hand: Danger of ForeclosureA home equity line of credit (HELOC) uses your home as collateral for a loan, which means that if you fail to repay the loan, you could lose your home. In addition... Read More »
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Top Q&A For: Are home equity credit lines bad

Are home equity lines of credit dischargeable?

On One Hand: It's Possible.Theoretically, any debt can be discharged. Debt is discharged when the lender agrees to forgive some or all of the debt. Since the decision is entirely up to the lender, ... Read More »
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Are home equity lines of credit tax deductible?

Only some of the interest on home equity lines of credit is tax deductible. The amount you can deduct depends on your filing status and how you use the proceeds of the loan.Interest LimitsFor most ... Read More »
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What collateral do you use for home equity lines of credit?

A HELOC or home equity line of credit is a revolving loan that borrows against the equity in your home. A home equity line of credit allows homeowners to draw against a sum of cash in increments, w... Read More »
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What terms are typical for home equity lines of credit?

A home equity line of credit is one of the most popular personal lines of credit available. The amount is determined by the value of your house and what you owe on the mortgage.AmountWhen you begin... Read More »
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