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Help to Buy equity loan scheme extended to 2020.
A home equity loan or H.E.L.O.C. is secured by the home, not the cash.
However, if you default on a home equity loan, you can lose your home.
"Here's the great thing: My home equity loan is 2.4 percent," Mr. Cycon said.
The equity loan scheme has already helped to fund the purchase of 25,000 homes.
Nationwide introduced a negative equity loan last year for existing customers.
Similar(5)
But my parents took a home-equity loan on their house.
Banks have suffered far more from mortgage foreclosures and home-equity loan defaults.
He later refinanced his mortgage and took out a home-equity loan.
They were paying $2,700 a month for a mortgage and home-equity loan.
Do you borrow through a home-equity loan or line?
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