A HELOC, which stands for Home Equity Line of Credit, is a type of loan that allows homeowners to borrow money against the equity they have built up in their home.
Getting a Mortgage After Declaring Bankruptcy
When people declare bankruptcy and discharge much of their debt, they have a mark on their credit report telling lenders there is cause for worry. If you’re in this situation, don’t lose hope. Although this financial move can make it more challenging to obtain a mortgage, it’s not impossible.