HOME EQUITY LOAN Definition

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HOME EQUITY LOAN is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance a business, major home repairs, medical bills or college education.

Learn new Accounting Terms

COST-OF-LIVING LEASE is a lease where yearly increases are tied to the cost of living index.

CHECK DIGIT is a redundant digit added to a code to check accuracy of other characters in the code.

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