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Story summary
- Homeowners are increasingly considering home equity lines of credit due to lower interest rates and rising expenses.
- Experts say HELOCs suit those with stable income and significant home equity for short-term needs like renovations.
- Borrowers should not treat HELOCs as long-term debt.
- Borrowers must have a clear repayment strategy before using a HELOC.
- Irregular income and declining home values can complicate repayment.
