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What Is a Home Equity Loan?
What Is a Home Equity Loan?
A home equity loan, also known as an “equity loan,” a “home equity installment loan,” or a “ Second Mortgage” is a type of consumer debt. It allows homeowners to borrow against the equity in their residence. The loan amount is based on the difference between the home’s current market value and the homeowner’s mortgage balance due.
Article: Hong Ty
