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Canada Mortgage Blog

Home Equity Loan

July 24 2010
Vancouver Home equity loan
In simple terminology, a Vancouver home equity loan is a loan taken against your house. A home equity loan is also called a mortgage or a second mortgage.

While taking a home equity loan you are actually borrowing the worth of your house. If the house is completely owned by you, then the term used for home equity loan is "mortgage", otherwise if your house is not fully paid off but has equity, it is called a "second mortgage". From now...
Posted in Home Equity