Homeowner’s Equity Account

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Definition: Homeowner’s Equity Account

Homeowner’s Equity Account
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Sources

Full Definition of Homeowner’s Equity Account

A collateralized revolving line of credit issued by a lender as a second mortgage on the equity available in a house. A typical credit limit on an equity account is 70% to 80% of the appraised value of the home, less the amount owed on a first mortgage.

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https://payrollheaven.com/define/homeowners-equity-account/
Modern Language Association (MLA):
Homeowner’s Equity Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 20, 2024 https://payrollheaven.com/define/homeowners-equity-account/.
Chicago Manual of Style (CMS):
Homeowner’s Equity Account. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/homeowners-equity-account/ (accessed: April 20, 2024).
American Psychological Association (APA):
Homeowner’s Equity Account. PayrollHeaven.com. Retrieved April 20, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/homeowners-equity-account/

Definition Sources

Definitions for Homeowner’s Equity Account are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.