A home equity line of credit is a type of second mortgage. I took one out 25 years ago to do some remodeling.
The HELOC and the mortgage on this place were paid off long ago. The property is now in a real estate trust that is untouchable to any outsider — unless the property tax doesn’t get paid.
The seemingly endless consequences of the Great Recession include foreclosures that are issued without prior notice. Zombie mortgages live!