Impound: That portion of a borrower's monthly payments held by the lender or servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due.
Debt Consolidation using a Home Equity Line of Credit Using a home equity line of credit (HELOC) to pay for your debt is a well known approach to solving one's debt problems. Find out what are the exact terms, advantages and disadvantages of a HELOC loan.