Q&A: What is the difference between refinancing a mortgage and getting home equity line of credit?

Question by christine [♥]: What is the difference between refinancing a mortgage and getting home equity line of credit?
My mom wanted to know! =]
Thanks!

Best answer:

Answer by jwishz
refinance means to replace your existing loan with a new one. line of credit is a second loan using the equity in your home as collateral to borrow more money

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