Home equity line of credit (HELOC)

A mortgage loan, usually a second mortgage, that allows a borrower to obtain cash against the equity of a home, up to a predetermined amount.

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How to Use a Home Equity Loan or HELOC

As home prices continue to climb, home equity loans and lines of credit are becoming potential sources of extra cash for a growing number of homeowners. But you still need to be very careful when tapping the value of your home.