Equity Home Loans

Home equity loan?

When you have a home equity loan and go to sell your home, do you have to repay the loan at the time of sale or can you still make payments?

Public Comments

1. A home equity line of credit is a loan against your primary residence. When that changes, the loan company will require full payment. It might be a due on sale clause, which you can find in the terms of service, or under conditions of the loan.
2. Usually the home equity loan is a fancy way of saying a mortgage. It is usually a lien against the property. When you sell the home, all liens against the property are usually satisfied for title to change over to new owner.