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Home equity line of credit
A home equity line of credit (often called HELOC and pronounced Hee-lock) is a loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's equity in his/her house (akin to a second mortgage). Because a home often is a consumer's most valuable asset, many homeowners use home equity credit lines only for major items, such as education, home improvements, or medical bills, and choose not to use them for day-to-day...
Related topics : line of credit home equity loan
Federal Home Loan Banks
The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 12 U.S. government-sponsored banks that provide stable, on-demand, low-cost funding to American financial institutions (not individuals) for home mortgage loans, small business, rural, agricultural, and economic development lending. With their members, the FHLBanks represents the largest collective source of home mortgage and community credit in the United States.
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Related topics : home loan federal bank / home credit loan
Genovese crime family
The Genovese crime family is one of the "Five Families" that dominate organized crime activities in New York City as part of the Mafia (or Cosa Nostra). The Genovese crime family has been nicknamed the "Ivy League" and "Rolls Royce" of organized crime. They are rivaled in size only by the Gambino crime family and are unmatched in terms of power. They have generally maintained a varying degree of influence over many of the smaller mob families outside of New York, including ties with the...
Related topics : mortgage loan home equity
Revolving credit
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day operations. They were first introduced by the Strawbridge and Clothier Department Store.
It is basically an arrangement which allows for the loan amount to be withdrawn, repaid, and redrawn again in any...
Related topics : loan credit card
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