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Home Equity Loan - Unlike other forms of consumer credit such as auto loans or credit cards, the interest on a Home Equity Loan is usually tax-deductible.
Definition: home equity loan: A revolving, open-end loan extended under a line of credit and secured by the borrower's residential property. The current market value of a home minus the outstanding mortgage balance.
A mortgage placed on real estate in exchange for cash to the borrower. Get cash out of your home
with home equity loan refinancing. 125% Equity Programs - Tax
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