Answer:
Yes, and it must be paid off before house can be sold. It creates a lien, just like a first mortgage.
A mortgage is a specific, fixed amount procured to buy a property or make improvements. The borrower receives the full amount at the closing and repayment begins immediately.
A home equity loan is different from ordinary home loans in that it is a line of credit the home owner can access for various uses. There is a credit limit assigned to the credit line depending on the amount of equity in the property. A limit of $25,000 is common. Repayment doesn't begin until the credit line is used. A home equity loan can be used for purposes like home improvements, remodeling, debt consolidation, restoration, college education and for meeting any other expenses. For purposes of reporting the status of the title a home equity is considered a second mortgage.