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dereksmit1
New Member

When is a HELOC considered to be paid off? Is it paid off when the HELOC term ends or when intermediate loan balance pay off payments during the active term are made?

 
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Irene2805
Expert Alumni

When is a HELOC considered to be paid off? Is it paid off when the HELOC term ends or when intermediate loan balance pay off payments during the active term are made?

A Home Equity Line of Credit (HELOC) is usually considered paid off when the HELOC is terminated/closed and the lien from the HELOC against the property is removed.

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Irene2805
Expert Alumni

When is a HELOC considered to be paid off? Is it paid off when the HELOC term ends or when intermediate loan balance pay off payments during the active term are made?

A Home Equity Line of Credit (HELOC) is usually considered paid off when the HELOC is terminated/closed and the lien from the HELOC against the property is removed.

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