In this episode of pplpod, we dive into the Home Equity Line of Credit (HELOC), a financial tool that allows homeowners to turn their property into a revolving line of credit. We explain the two distinct phases of a HELOC—the "draw period," where borrowers can withdraw funds and often pay only interest, and the "repayment period," when the principal becomes due.

Key topics covered in this episode include:

• Risk and Reward: Why HELOCs often offer lower interest rates than unsecured debt, but carry the serious risk of foreclosure if the loan is not repaid.

• The US Market: How HELOCs became a staple of American finance in the early 2000s, their role in the subprime mortgage crisis, and how the 2017 tax laws changed their deductibility.

• Canada’s Boom and Regulation: