*Loan,banking and credit>>>credit line

What is the differance between a line of credit on your home and a home equity loan?

I have filed bankruptcy 1/ half years ago and I own the house with my 80 year old mother and we need work done on the house.
She was told this is the best way. Or I should say the only way. This is for 30 years at 7.99%. Low payments of $156 a month but we were wondering if she got sick or I did if the payments were behind would they forclose. What does it mean when they say they would probably take a lein on the house. Isn't a lein and a line of credit the same?

First ...a line of credit and and a home equity loan are two different things. A line of credit on your home means that the lender has appraised your home ...and lets say they found it to be worth 120,000 and the balance owed on the home was maybe 75,000...The lender would give you a line of credit for maybe 25,000 and you would draw off that line of credit for the house repairs.
In the case of a home equity loan...the lender would give you a check for 25,000 and you would get the repairs done and pay for it out of that check. In either case there are fees involved which are rolled into your payments as well as the interest. The lender chrages fees for the appraisal of your home, fees for securing the loan for you (based on your credit risk) as well as interest.
If you miss a payment or two ...the lender can force you to sell your home and pay the balance of the loan. The loan in either case constitutes a lien against your home ...which gives the lender the right to force you to sell and re-pay them if you are late with your payments...which is forclosure.

A line of credit is like a credit card. You can spend up to a certain limit. You pay interest on the amount you owe. You can pay it back then borrow again, as long as the account it still open.

An equity loan means they give you all of the money up front. You make regular payments to pay the money back. You cannot pay the money back then borrow it again.

A lien on the house mean that if you default on the loan then they can foreclose on the house.
20 grand
a line of credit is like a checking account. a loan is for a fixed amount.
A Second morgage is a credit line and a home equity loan is a open loan that has a flexable intrest rate.
Same difference
Home equity loan you have to take all the funds at closing, A line of credit you draw upon at your will and only pay interest on the funds you take.