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A home equity line of credit can be a good way to pay off other, higher-interest debt or home renovations. But ask yourself: would a #HELOC tempt you to use your home like an ATM? Unlike your #mortgage, you only have to make regular payments against the interest on your #HELOC until you sell your home. This short-term credit advantage can mean a long-term debt problem. canada.ca/it-pays-to-know | Financial Consumer Agency of Canada (FCAC)
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