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

GEARING is the proportion of the capital employed of a company that is financed by lenders rather than shareholders.

TIME DRAFT is a draft that matures either a certain number of days after acceptance or a certain number of days after the date of the draft. See SIGHT DRAFT.

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