No. A home equity line of credit (HELOC) is a loan you take out against the equity of your property through a financial institution or lender. It is often used for things like renovations. If the contractor put a lien against your previous home to cover the difference of the construction costs, this is not a HELOC. The contractor is protecting their financial interest in the construction of your new home. By placing the lien, they will be ensured a payout on the sale of your previous home.
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