« FHA Mortgages for People with Poor | Main | theMortgage.com - Canadian Mortgages, Mortgage Rates, Mortgage ... »
June 15, 2006
Equity Line Of
An equity line of credit, abbreviated as ELOC, is defined as the combination of a line of credit and an equity loan. This type of credit allows the user to fulfill his or her dreams however he deems fit. To be more precise, it establishes a maximum loan amount based on credit and equity. The term equity refers to the difference between total assets and total liabilities. This loan permits the borrower to take as much money needed without re-applying each time. The only requirement is that the total amount of borrowed funds should not exceed the credit limit. Borrowing is an easy process like writing a check and the borrower gets the money when it is
From Equity Line Of
Posted by Greg at June 15, 2006 10:55 AM
