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daphne
what is the differance between a line of credit on your home and a home equity loan?
I have filed bankruptcy 1/ half years ago and I own the house with my 80 year old mother and we need work done on the house.
She was told this is the best way. Or I should say the only way. This is for 30 years at 7.99%. Low payments of $156 a month but we were wondering if she got sick or I did if the payments were behind would they forclose. What does it mean when they say they would probably take a lein on the house. Isn't a lein and a line of credit the same?
14 AnswersRenting & Real Estate1 decade ago