That noted, there are some timely pros and cons to using a HELOC that prospective borrowers ... d be better served by exploring home equity loans or, even, cash-out refinance options as alternatives.

A HELOC is a line of credit based on your home’s equity: The more equity (value) you’ve built up in the home, the more money ...

However, borrowing against your home's value has significant pros and cons. Don't miss the move: Subscribe to TheStreet's free daily newsletter Personal finance expert Dave Ramsey explains how ...