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Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
equity loan
Look at other dictionaries:
Equity loan — An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80 … Wikipedia
Home equity loan — A home equity loan (sometimes abbreviated HEL) is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home… … Wikipedia
Home-Equity Loan — A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner s equity and the home s current market value. The mortgage also provides… … Investment dictionary
home equity loan — ➔ loan1 * * * home equity loan UK US noun [C] FINANCE, PROPERTY ► a loan that uses your home equity as a guarantee that the money you borrow will be paid back: »We purchased a fixed rate home equity loan with a regular payback period … Financial and business terms
home equity loan — see loan Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. home equity loan n … Law dictionary
home equity loan — a second mortgage The security being deferred to the first mortgagee, the terms are onerous and only accepted by those in dire financial straits: Home equity loan sounded ever so much more palatable than second mortgage . (M. Thomas,… … How not to say what you mean: A dictionary of euphemisms
homeowner's equity loan — See equity loan … Black's law dictionary
homeowner's equity loan — See equity loan … Black's law dictionary
loan — n 1 a: money lent at interest b: something lent usu. for the borrower s temporary use 2: a transfer or delivery of money from one party to another with the express or implied agreement that the sum will be repaid regardless of contingency and usu … Law dictionary
home equity loan — noun a loan secured by equity value in the borrower s home • Syn: ↑home loan, ↑home equity credit, ↑equity credit line • Hypernyms: ↑consumer credit, ↑loan … Useful english dictionary
