What’s the difference between a home equity loan and a HELOC (home equity line of credit)?
These are both forms of borrowing that allow homeowners to leverage the equity in their property, but they function differently. While both allow homeowners to borrow against their home equity, a Home Equity Loan provides a lump sum upfront with fixed payments, while a HELOC offers a revolving line of credit with flexibility in accessing funds during a specified time period.
Balance Sheet
Learn about a balance sheet and how it can help you in the property division analysis.
Property Division Introduction
Property division is one of the two financial categories addressed in divorce, focusing on the division of assets and liabilities, including real estate, debts, financial accounts, investments, automobiles and personal possessions.
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