HELOC rates are going up – what you can do to avoid payment shock

About two million Canadian homeowners have home equity lines of credit (HELOCs) — and many of them are likely to see their borrowing costs go up in the next few months. HELOCs are credit lines backed by a borrower’s equity in her or his home. They work a bit like a mortgage and a bit like a credit …

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source http://consumer-mortgage.com/heloc-rates-are-going-up-what-you-can-do-to-avoid-payment-shock/