There are two types of home equity debt consolidation loans.One is the simple home equity loan; the other is the home equity line of credit or HELOC. Both are considered as second mortgages. The difference between the home mortgage and home equity debt consolidation loan is that unlike the home mortgage, the equity loan is spread over a shorter loan term. While the home mortgage may be spread over a span of 30 years, the home equity loanrepayment is spread over half that period or even as les... Continue reading ...
