Home Equity Line Of Credit (HELOC)

Business / Taxes / Home Equity Line Of Credit (HELOC): Sometimes referred to as a HELOC, a home equity line of credit lets you borrow against the equity you’ve built in your home, usually by using a debit card or writing checks against your available balance. Your credit line, or limit, is fixed, but you can draw against it up to that limit rather than receive the entire loan amount as a lump sum. Whatever you borrow reduces your available balance until you repay it. Then you can borrow it again. Home equity lines of credit have variable interest rates. The terms of repayment vary and are spelled out in your agreement. In some cases, you begin to repay principal and interest as soon as you borrow. In others, you pay interest only and make a one-time full payment of principal at some set date. Or, you may make interest-only payments for a specific period, and then begin to repay principal as well. It’s important to keep in mind that because your home serves as collateral for the line of credit, your home could be at risk if you default, or fall behind on repayment.

Other Words for Credit

Credit Noun Synonyms: belief, faith, trust, credence
Credit Verb Synonyms: ascribe, acknowledge, attribute, assign, impute
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Other Words for Equity

Equity Noun Synonyms: fairness, impartiality, even-handedness, justice, fair play, objectivity, disinterest, fair-mindedness, equitableness, open-mindedness, disinterestedness, neutrality, tolerance, judiciousness, right-mindedness, high-mindedness
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Other Words for Home

Home Adjective Synonyms: dwelling-place, residence, domicile, abode, dwelling, house, (living) quarters, habitation, lodging(s), accommodation or accommodations, place, digs, diggings
Home Noun Synonyms: (home) base, residency, territory, haunt, home ground, bailiwick, stamping-ground
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Other Words for Line

Line Noun Synonyms: wrinkle, crease, crinkle, furrow, crow's-foot
Line Verb Synonyms: interline, cover, face, ceil
Line Adjective Synonyms: mark, pencil-mark, pen-mark, rule, score, stroke, underline, underscore, diagonal, slash, virgule, shilling-mark, solidus, separatrix, oblique
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Credit Line

Business / Taxes / Credit Line: A credit line, or line of credit, is a revolving credit agreement that allows you to write checks or make cash withdrawals of amounts up to your credit limit. When you use the credit — sometimes cal MORE

Out-Of-Area Benefits

Health / Dentistry / Out-Of-Area Benefits: Benefits the health plan provides to covered persons for covered services obtained outside of the network service area. The details of such benefits will vary from plan to plan. MORE

Out-Of-Favor Industry Or Stock

Business / Finance / Out-Of-Favor Industry Or Stock: An unpopular industry or stock that usually has a low price-earnings ratio. MORE

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