About 75% of these so called HELOCS are secured by mostly un-collateralized second liens on the homes.

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Nor are Helocs necessarily in plentiful supply these days, due to the declining value of homes, and homeowners equity in them.

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This option is similar to a home equity loan, but with one key difference: Interest on home equity lines of credit (Helocs) are variable.

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Anti-Deficiency Statutes often only work for original purchase money loans, and not for re-financed loans, or for home-equity lines of credit (HELOCs).

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Most helocs are variable-rate loans.

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