Equity Lines

Question

Hi, 1. What is 'equity lines of credit'? 2. What does 'lines' mean here? Why plural? Thanks,

Vinodram · Accepted Answer

'equity lines of credit' means A loan secured by equity value in the borrower's home.

Meantolearn · Answer

0 Hi vinodram, 02br
02br
00The definition you gave is more like 'equity loan' rather than 'equity lines of credit.' Are they the same? 02br
02br
00Q2. What does 'lines of credit' mean? What does 'lines' mean here? Why plural? 02br
00My Q2 was not answered. 02br
02br
00Thanks for reply. 0-

Vinodram · Answer

0 Sorry Meantolearn I cant get the solution to your Questions.... 0-

Miche · Answer

0 Hi, MTL, 02br
00I believe "lines of credit" is what I know as "credit lines" (credit line = line of credit - sing.). 02br
00A credit line is what one bank gives to another bank for on-lending. For instance, some banks in my country receive credit lines from the EBRD and then lend amounts on to borrowers. 02br
00Credit lines are usually extended for a specific purpose or to a specific group, i.e. small and medium enterprises, energy projects, etc. 02br
00Judging by the definition given by Viondram, I suppose "equity lines of credit" are credit lines extended for on-lending to borrowers who secure the loans with equity value in their homes. 0-

Vinodram · Answer

0 Thanks Miche... 0-

Equity Lines

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