A home equity loan creates a lien against the borrower's house, and reduces actual home equity.
Most home equity loans require good to excellent credit history, and reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types, closed end and open end.
Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages.
Source: Wikipedia > Home Equity Loan
Web Links
- Mortgage, Refinance, and Home Equity Loans - GetSmart.com, Modified June 29, 2009, 12:00 am
- Home Equity Loans - Bridge Loans, Home Equity Loans, Home Equity Lines ..., Modified June 25, 2009, 12:00 am
- Home Equity Loans on MSN Money, Modified June 29, 2009, 12:00 am
- Home Equity Loan Options | Quicken Loans, Modified June 29, 2009, 12:00 am
- Home Equity Loans & Home Equity Lines of Credit From Citizens Bank, Modified July 4, 2009, 12:00 am
- Home Equity Loans at Credit Loan, Modified June 29, 2009, 12:00 am
- Home Equity Loan | Home Equity | Loans | Alliant Credit Union, Modified June 24, 2009, 12:00 am
- Wells Fargo - Home Equity Loan and Line of Credit Application, Modified June 30, 2009, 12:00 am
- How to Use A Home Equity Loan | eHow.com, Modified July 4, 2009, 12:00 am