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HELOC Basics
http://www.helocbasics.com/
Everything you've ever wanted to know about home equity line of credit (HELOC) loans. HELOC tips, news, lender profiles, and more.
Recent Posts
Using a HELOC to Pay Off a Car Loan
Now that HELOC rates are so low, many borrowers are looking for smart ways to use their lines. In a recent Scripps News column, a reader asked if he should use a HELOC to pay off his car loan. Columnist Steve Bucci pointed out both the pros and cons ...
HELOC Closures Continue
It’s been months since banks first began closing HELOC lines due to the worsening real estate market. But, customers continue to receive HELOC freeze and closure notices in the mail. Monitor Bank Rates gives this concerning antedote: “A c...
Paying Off Your Mortgage with a Lower-Interest HELOC
Now that HELOC rates are so low, many homeowners are tempted to pay off their original home loans with home equity. While this strategy may seem like a smart move at first glance, there are some serious risks. Banking My Way explains: “…T...
Extremely Low Rates on PenFed HELOCs
If you’ve been waiting to take advantage of low HELOC rates, now may be the time. PenFed is offering HELOCs at just 3.25%. Monitor Bank Rates explains: “Pentagon Federal Credit Union is offering a home equity line of credit (HELOC) with a...
HELOC Subordination
Many HELOC borrowers are surprised when they’re turned down for mortgage refinancing programs. Why are banks sending them away? Because a growing number of HELOC / second mortgage lenders are refusing to subordinate their loans (agree to be pai...
Taking Out a HELOC Before Job Loss
Some financial experts advise clients to take out a HELOC as a security against potential job loss. But, this strategy only works if the homeowner is currently employed when the equity loan closes. WalletPop reports: “That’s a possible st...

