What is an equity line of credit and how do I get it?
An equity line of credit is a commitment to lend on a revolving basis (repayments replenish the balance available to borrow), which is secured by a pledge or mortgage on the borrower’s equity in property. This form of credit is most often available to consumers in the U.S. as a “home equity line of credit,” which is secured by the consumer’s equity in residential real estate. An MT760 bank-to-bank guarantee is a specialized message used in the SWIFT (Society for Worldwide Interbank Financial Telecommunications) system by a bank to guarantee its customer’s performance of a stated action (often a payment). It’s used in international trade.
