51Թ

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home equity loan

Or home-eq·ui·ty loan

[hohm ek-wi-tee lohn]

noun

Personal Finance.
  1. a loan above and beyond a mortgage that a homeowner can take out to generate cash, using the equity in the home as collateral.



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51Թ History and Origins

Origin of home equity loan1

First recorded in 1980–85
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Example Sentences

Examples have not been reviewed.

A home equity loan or home equity line of credit might be options if the couple have good credit, sufficient income to make the payments and a cooperative lender.

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He also pleaded guilty to signing off on a home equity loan application that understated his financial liabilities.

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Is it remotely possible that he would nevertheless take out a home equity loan and pay Daniels $130,000 without Trump’s knowledge and direction?

From

For one, Katyal said Monday night, the idea that Michael Cohen would have decided to pay off Daniels – and take out a home equity loan – of his own volition, without consulting Trump, is “thoroughly implausible.”

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Others have borrowed against their homes to put cash in their pockets, either with a reverse mortgage, home equity loan or cash-out refinance.

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