Originally Posted by
NeGourmand
Have you used it for MS at all?
No, we have not used the line of credit. I am only contributing the observation that the application process requires a substantial investment of time and documentation. If you are the type of person who thinks that some aspect of your financial life is off limits to a lender, you will not enjoy the process.
Originally Posted by
Often1
A HELOC is a second (or third or fourth) mortgage. ....
Indeed, or it can be a first mortgage if there is no other lien on the property.