We have lived in our current house since 10/99. We bought with a mortgage, but then paid off the mortgage last fall thanks to a netbank 5.25% home equity loan. Thus the mortgage account shows "closed" on all our CRs. Was wondering if anyone knows that the HEL, marked "installment," would have the same beneficial effect?
I can't answer your question, but I can tell you that on a title search, a HELOC is considered a mortgage and even though it might be paid off and closed, it will still need to be discharged. (Been running into that a lot lately). L
Interesting...I would have thought that being closed would be enough. Thanks. Any other insights on this question?
