Shazia is a beautiful Credit officer from USA. Basically She is Pakistani but after her master's she join USA multinational company as credit officer. She is really intelligent and hoar worker. Now she want to tell us about credit equity home line. She told, according to wikipedia, A home equity line of credit is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house. Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day expenses. HELOC abuse helped cause the subprime mortgage crisis
Shazia said, If you are in the market for credit, a home equity plan is one of several options that might be right for you. Before making a decision, however, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risks. And remember, failure to repay the amounts you've borrowed, plus interest, could mean the loss of your home.
She more told, U.S. Bank offers Home Equity Lines of Credit (HELOC) and Loans. Competitive interest rates, no closing costs, low monthly payments and tax deductibility make our Home Equity products the smart choice for financing:
Home improvements
Debt consolidation
Vehicle purchases
Education expenses
Unexpected expenses
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