REIA NYC Blog
Real Estate Investors Association NYC

Home Equity Line of Credit Part III

During the past two segments we have introduced the concept of a home equity line of credit and whether we should retire the line of credit if we have the cash or are refinancing. This segment we would like to conclude our three-part series by looking at the Home Equity Line of Credit (HELOC) in terms of helping finance a home purchase. There are several uses of a HELOC with regard to this situation– 1. Lessen the cash necessary for ..

Home Equity Line of Credit Part II

In the last segment we discussed the characteristics of a typical Home Equity Line of Credit (HELOC). A typical HELOC is a second mortgage, an open line of credit that can be used to access capital and will typically have an adjustable rate. The next question is–should you procure a new HELOC or retire the HELOC you already have? Let’s first talk about the retirement decision. There are two ways to “retire,” or pa ..

Home Equity Line of Credit Part I

The Home Equity Line of Credit (HELOC) has become a popular financing vehicle for many homeowners with equity in their homes. The purpose of this article is to help the average homeowner make a better decision when deciding whether to procure a new HELOC or retire a present HELOC. First, what is a Home Equity Line of Credit? It is simply a loan that is secured against someone’s home. Though it could be secured against any property  ..