Gladys,  HELOC stands for Home Equity Line of Credit.  Usually in our world a 2nd mortgage put on the property, the amt being determined by the equity that the borrow has in their home.  The amount of the loan is determined by the appraised value minus the amount owed on the1st mtg and any other liens against the property.  Generally the lender tries to pay off all other liens, credit cards, etc. if there is enough equity in the house.  Hope this helps.
Wanda/AccuSearch