HELOC Resources and Advice
The following are good articles about HELOC and when you should try a HELOC or another conventional loan.
This first article has to do with home remodeling. A HELOC is often used for home remodeling because it is based on the equity you have on your house.
Home Remodeling – A Loan Versus Credit
"If you need extra cash to remodel your home or need extra cash to purchase a newer house, should you choose a home equity loan (HEL) or home equity line of credit HELOC)? Both of these types of loan or credit options are based on the equity you currently have in your house."
This next article also explains the difference between a HEL and a HELOC without the remodeling aspect. I highly recommend reading it:
Second Trust Deeds: Home Equity Loans and Home Equity Lines of Credit
"A Home Equity Line of Credit, or HELOC (pronounced hee-lock) works more like a credit card than anything else."
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