Does HELOC have anything to do with helicopters? No, but you could feel like you are flying high. It means Home Equity Line of Credit. It is a loan like a loan for a mortgage. There is a difference in that the mortgage is one amount and this credit is an amount that has been established for you to draw from.

There may not be anything unique about your situation. Like so many other Americans, you are suffering from debt woes. Your grasp of the situation is a tenuous one. As you strive to find a solution and possibly reduce your debt, you may be wondering if you’re out of your league. If this is true, [...]