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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (192432)	9/17/2002 4:57:59 PM
From: patron_anejo_por_favor	Respond to of 436258

Call CCR, they'll get ya yer cut!<G/NG> countrywide.com Home Equity Lines of Credit Revolving line of credit — during draw period, available credit can be used over and over again as the balance on the HELOC is paid down Borrow only what you need when you need it Low start rate for first 3 months Simple interest loan During the draw period (5 or 10 years), the minimum payment is interest only Variable monthly payments after first 3 months based on outstanding balance and fully indexed rate Payments to principal immediately reduce monthly payment during draw period After draw period converts to a variable principal and interest payment that is paid off over 15 additional years Interest payments usually tax deductible (see your tax advisor) More flexible underwriting guidelines than traditional second mortgages (HO HO HO!) Secured by the equity in your home Loans up to $500,000