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A HELOC, or home equity line of credit, is a line of credit that is secured using the equity in your home. HELOCs provide you with a revolving credit line to use for large expenses, debt consolidation and more. HELOCs often have lower interest rates than some other common types of loans, and the interest may even be tax-deductible. Always consult with a tax advisor regarding the deductibility of interest as tax rules may change.
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The HELOC Process:
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