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home equity loan
home eq·ui·ty loan (plural home eq·ui·ty loans)


noun 
Definition:
 
loan with home as collateral: a loan by which the borrower's home is used as collateral, usually secondary to a first mortgage
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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