![Understanding the basics of HELOCs](https://cdn.explorefaqs.com/assets/Ly9jZ.jpg?eurl=Ly9jZG4uZXhwbG9yZWZhcXMuY29tL2NvbnRlbnQuZ2V0c21hcnRpbnNpZ2h0cy5jb20vd3AtY29udGVudC91cGxvYWRzLzIwMjIvMDgvVW5kZXJzdGFuZGluZ3RoZWJhc2ljc29mSEVMT0NzLmpwZw%3D%3D)
Understanding the basics of HELOCs
Whether it is fresh homeowners or even those who already have HELOCs, every one of them is asking—so, what is a HELOC anyway? According to a survey conducted by TD Bank, many borrowers do not fully understand the details of their HELOC or comprehend the terms of their lines of credit.
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