Home Equity Loan

Question

I don't think there is an exact translation but how do I express this idea?

p.s. I need the terminology that is most easily understood in Latin America.

Answer 1

I am a real estate lawyer and have, because of the economy, been helping people do loan modifications recently. In Mexico and most of South America they do not have real estate financing the way we do here. Home equity loans are essentially unheard of. We just use the descriptive phrase: "Préstamo sobre el valor acumulado de la vivienda."