Income question

[B12]

Is money from your home equity line of credit considered income when calculating 6 month income?

I think I saw a thread one time that said cash advances were not considered income, but how about the home equity line?

[nc73]

Is money from your home equity line of credit considered income when calculating 6 month income?

I think I saw a thread one time that said cash advances were not considered income, but how about the home equity line?

It's secured credit. That's why it says line of credit...CREDIT is not income.

[B12]

Thanks

[demismom]

No, it's not income - you didn't EARN it.