Even if you’ve never taken out a home equity line of credit, you may be vulnerable to HELOC fraud. There’s been a recent increase in the number of unauthorized home equity lines. With enough personal information, a criminal may be able to open a line of credit in your name and withdraw the funds without [...] [...more]
A new study reveals that a lot of Americans have very little equity in their homes – millions are “upside down” and actually owe more than their properties are worth. The Seattle Times reports: “First American CoreLogic’s study examined equity as of Sept. 30. It found that 18 percent of all mortgaged properties in the [...] [...more]
In past years, I’ve argued that a home equity line of credit is generally a smarter choice than a home equity loan. Lines of credit allow borrowers to withdraw money only when they need it and pay interest only when the money is withdrawn. Pay down the line and stop paying interest. However, now that [...] [...more]
As I’ve previously posted, using a home equity line to invest in stocks is a bad idea. Since HELOC rates are down and stocks are falling, this idea is coming up more often in conversations and financial forums. Three words: Don’t Do It. Stock investing is making a wager with your home. If stocks fall [...] [...more]
There are several benefits to paying off your credit cards with a home equity line of credit. First: you can take advantage of recent prime rate reductions for an interest rate significantly lower than those offered by most credit cards. Apply your savings to your bill and you’ll be able to save money while paying [...] [...more]
