Posted by James (FL) on August 13, 2003 at 15:34:04:
hello, nice to talk to you. A HELOC is basically used like a credit card, other than the fact that you do nto have a card to charge. In some cases you will be required to take out at least 50% of the amount of the HELOC right away, and you will be issued checks to write against the remaining balance of your HELOC. For further info, please email me directly and I will be more than happy to speak with you further in depth.