If you are a homeowner and have been paying your mortgage on time you may be eligible for a home equity line of credit. People like to use equity lines for cash and to help them pay for home remodeling. Some homeowners use the cash from equity lines of credit to pay off debts and credit card.
Getting an equity line today will require good credit scores and a solid payment history on your home loan for at least the last 12 months. In most cases home equity lenders will be looking to see that you have equity in your property after the second mortgage.
Do you need some extra money? If you meet the requirements for a home equity loan you may eligible to set up a credit line that allows you to access cash when you need it.