Is a Heloc considered a 2nd mortgage?

Is a Heloc considered a 2nd mortgage? While a HELOC is commonly referred to as a second mortgage, a HELOC may be issued as a primary loan. If a home is free and clear, a lender who issues a HELOC would become the sole lien holder on the property, and hold a senior claim that’s … Continue reading Is a Heloc considered a 2nd mortgage?