What Is HELOC and MMA?

Answer HELOC is short for "home equity line of credit," a way to borrow money against the value of your house. A Money Merge Account (MMA) is a type of financial product known as a mortgage accelerator.

Top Q&A For: What Is HELOC and MMA

What is a HELOC?

"HELOC" is an abbreviation for "home equity line of credit". It is a line of credit that is secured by the the value of a home's equity (the difference between a home's value and the balance owed o... Read More »

Definition of HELOC?

For some people, access to credit is important. There are multiple ways to access that credit. One way might be through a credit card. If you own your own home, then you might consider a home equit... Read More »

Explain HELOC?

A HELOC is a home equity line of credit. This is a type of credit arrangement where a home owner borrows money using the equity in her home to guarantee repayment of the loan. HELOCs are based on t... Read More »

How to Transfer HELOC?

HELOC loans, commonly known as HELOCs, are mortgages on a home--usually in second position behind the first mortgage. These loans are often used for home improvements, large purchases (such as a bo... Read More »