Home Equity Line of Credit

Edwards Finance > Home Equity

Q. I have just upgraded to Money Deluxe 2006 from Money Deluxe 2004. In the 2004 version, home equity lines of credit were treated as "credit cards" for account purposes. I understand that in the 2006 version, one can classify an account as a "home equity line of credit" account. My question is, how can I convert my current "credit card" home equitly line of credit account into a real "home equity line of credit" account in Money 2006? The "home equity line of credit" does not appear in the drop down list of "types of account" when I try to change the account details for my home equity line of credit account.

A. I guess I'm not really expecting anything to be different, but Money 2006 "Help" says that you can open a Home Equity Line of Credit account by going to Bank, then selecting "other" for type of account, and then selecting "home equity line of credit". I haven't actually tried that, because I don't want to open a new account, I just want to have my current account reflect that it is a Home Equity Line of Credit account rather than a credit card account. In practical terms, I understand that the account would work the same way. I guess I'm just a purist...

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