What is equity loan vs. line of credit?

There are two types of home equity loans, the home equity line of credit and the second mortgage.

 

The home equity line of credit gives you a credit line you can tap into whenever you wish while a second mortgage provides you with a fixed amount of money repayable over a fixed period.

 

An equity line of credit is similar to a line of credit, but because it’s secured with your equity; it can be approved at a lower interest rate on in comparison to an unsecured line. The terms are flexible and as a line of credit can be accessed at any time. The interest paid on the portion of the line that is being used. In other words, if you are approved for a line of credit $10,000.00 and only use half of the adopted amount, you would only be charged interest on $5,000.00

 

We have exclusive in-house financing from large group private investors. If numerous lenders have turned you down, we have many options to rescue you from a financial crisis. In fact, 2nd mortgages are one of our most recognized products. Our primary goal is to secure your equity by providing you the right solution for your bad debts. Bad debts may include:

 

Property tax arrears.
Mortgage Arrears.
Canada Revenue Agency (Taxes).
Unsecured credit card debt.
Delinquent loans & more.
Losing your property is not the only the option.Make the decision to talk to our analysts today.

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