Questions tagged [heloc]

a type of home equity loan where the borrower is given a line of credit. They do not have to start out borrowing the full amount.

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7 votes
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Can a Line of Credit be re-financed? Is it like a mortgage, with a term?

I have a home equity line of credit, for which I have had trouble making large payments against since my career change. I'm wondering if I should be concerned over the interest charges, and if there ...
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5 votes
3 answers

Use retirement to pay off debt: Should I cash in RRSP to repay Line of Credit?

The amount I have in RRSP savings is exactly equal to the amount I have in Home Equity Line of Credit debt (significant, but aside from home mortgage, my family has no other debt). I know if I ...
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6 votes
4 answers

I have a secured line of credit (substantial balance) as well as a retirement account. Am I wisest to pay off my debt before contributing to my retirement account?

What if it will take me 15 years to pay off my debt? Should that ALWAYS be what I pay down first?
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