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announced the formation of a team dedicated to HELOC (Home Equity Line of Credit) and second mortgage programs in Florida and Southeastern U. A HELOC allows you to borrow against the value of your home, generally at lower rates than are available through refinancing. For example, in 2004 a homeowner secures a $500,000 1st mortgage as a 5/1 ARM at 5% and a $200,000 HELOC at Prime, which in June of last year was a very low 4%. |
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