Re: Second Mortgage is "Non Mortgage Debt"?
10-21-2013 08:18 PM
Not only the CRAs but the banks themselves rate your credit as either installment or revovling. My own bank told me that a HELOC is considered by them to be 65% revovling and 35% installment. Some have a hard number instead of using a percentage as to the portion of it being revovling.