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Key Takeaways
HELOCs work similarly to credit cards, with draw and repayment periods
A HELOC generally costs less than a cash-out refinance
HELOC interest rates typically tie half to a full percentage point above the prime rate
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Facts: A fence existed for years and was considered the property line between adjacent parcels of property before the neighbor built permanent improvements on what they believed was their property. They do not obtain a survey or a permit for th...