March 3, 2025 ~ Lucy Ann Lance talks with Kylie Marceau with University of Michigan Credit Union for today's Money Monday. A home equity line of credit, or HELOC, lets homeowners borrow against their home’s equity for renovations, debt consolidation, or unexpected expenses. Unlike lump-sum loans, HELOCs offer a credit line with variable interest rates and payments based on the borrowed amount. Borrowers should be aware of the risks, including using their home as collateral and the potential for overspending. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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