What does HELOC mean in Real Estate?

This page is about the meanings of the acronym/abbreviation/shorthand HELOC in the Business field in general and in the Real Estate terminology in particular.

Home Equity Line Of Credit

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What does HELOC mean?

Home equity line of credit
A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period, where the collateral is the borrower's equity in his/her house. Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses. HELOC abuse is often cited as one cause of the subprime mortgage crisis.

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"HELOC." Abbreviations.com. STANDS4 LLC, 2017. Web. 17 Nov. 2017. <http://www.abbreviations.com/term/112633>.