HECL

(redirected from Home Equity Credit Line)
Also found in: Financial.
AcronymDefinition
HECLHughes Escorts Communications, Ltd. (est. 1991; Chennai, India)
HECLHughes Escorts Communications Limited (est. 1991; India)
HECLHome Equity Credit Line
References in periodicals archive ?
But a home equity credit line can be a boon if used judiciously.
Grandfathered home equity credit lines may present special problems.
Some refinancing homeowners in this situation might have been able to obtain a new home equity credit line, given sufficient equity, but any outstanding balance probably would have been much smaller than the balance on the previous line that had been refinanced into the new first mortgage.
Widespread consumer interest in home equity credit line plans dates to 1986, when extensive promotion of such plans by financial institutions began.
WASHINGTON Its a big and confusing question for many homeowners in the wake of the December tax law changes: Are new interest-deductible home equity credit lines (HELOCs) and second mortgages now totally out of reach going forward?
It is believed that about 3.3 million home equity credit lines totalling USD158bn are scheduled to reset between 2015 and 2018.
Beginning in Spring 2008, Bank of America, Citibank, JP Morgan Chase, Morgan Stanley and the now-defunct Countrywide and Washington Mutual cancelled or reduced home equity credit lines in various parts of the country, including in Oregon.
Low appraisals can also result in homeowners' home equity credit lines being seized, as happened to the owner of one 2,650-square-foot Manhattan apartment appraised at $1.475 million in 2005 and worth $600,000 today.
Spending overall from consumers may slow down for a number of reasons, including increased energy prices and an exhaustion of home equity credit lines that have been spent to the maximum by many consumers.
Each sales message consists of three to five screens and a simple message, perhaps plugging tax shelters, portfolio diversification, auto loans, home equity credit Lines or whatever seems appropriate to the customer at the time.
WASHINGTON u ItEs a big and confusing question for many homeowners in the wake of the December tax law changes: Are new interest-deductible home equity credit lines (HELOCs) and second mortgages now totally out of reach going forward?
That appears to be the strategy for growing numbers of owners across the country who have begun taking out home equity credit lines at an accelerating pace.
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