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Home Equity Line of Credit - New Rules

Blog by | September 18th, 2012

Home Equity Line of Credit (HELOC) are a fantastic mortgage option for investors as it allows investors to assess their property equity immediately. Unfortunately lenders are changing their HELOC lending policies and are making it harder to obtain HELOC mortgages. If you current have a HELOC mortgage, KEEP IT! New rules will be reducing HELOC financing from 80% to 65%. Credit Unions are not affected by the new guidelines.