The Dangers of Canadians’ Home Equity Line of Credit: Guest post

It’s no secret that Canadian homeowners have a longstanding love affair with their home equity line of credit (HELOC). However, this love has the potential to go sour through a variety of ways, leaving millions heartbroken.

At the heart of this romance is a low-cost, low interest, flexible way to borrow money. In the early 2000s, banks began providing a home equity line of credit as a standard addition to new mortgages.

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