Re:Ask HN: How likely are we to see a financial crash this y...
by theandrewbailey on Wednesday March 23, 2022 @12:26PM
(#30780169)
> Works like a credit card.
The difference is that the metaphorical credit card of a HELOC has the house as collateral. A normal credit card has no collateral. If you go bankrupt, the HELOC takes the house, but the credit card doesn't.
The difference is that the metaphorical credit card of a HELOC has the house as collateral. A normal credit card has no collateral. If you go bankrupt, the HELOC takes the house, but the credit card doesn't.