There are two types of home equity debt: home equity loans and home equity lines of credit, also known as HELOC. They are both commonly referred to as a second mortgage.

A home equity loan may be an excellent way to utilize the equity in your home for a variety of reasons.  It may be utilized to finance:

• Debt Consolidation
  
  
• Medical Expenses
  
  
• Educational Expenses
  
  
• Home Improvements