According to the article at CNN Money’s website, many lenders are beginning to once again write Home Equity Lines of Credit (or HELOC’s). If you are one of the few people who still have good credit and at least 20% equity in your home, then you may qualify for this great debt-reducing, home improvement enabling tool!
The article describes some great tips for using your HELOC the “right” way so that you can benefit from it the most, such as:
- If you use your HELOC to improve a first or second home, you can deduct interest on up to $1 Million dollars of the loan!
Read the full article here for more great tips to help you get the most out of a HELOC.
