Now that HELOC rates are so low, many borrowers are looking for smart ways to use their lines. In a recent Scripps News column, a reader asked if he should use a HELOC to pay off his car loan. Columnist Steve Bucci pointed out both the pros and cons and said that the reader should [...] [...more]
It’s been months since banks first began closing HELOC lines due to the worsening real estate market. But, customers continue to receive HELOC freeze and closure notices in the mail. Monitor Bank Rates gives this concerning antedote: “A close friend of mine had his HELOC closed by JP Morgage Chase on a home he and [...] [...more]
Now that HELOC rates are so low, many homeowners are tempted to pay off their original home loans with home equity. While this strategy may seem like a smart move at first glance, there are some serious risks. Banking My Way explains: “…There is a serious problem — because HELOC rates are variable, you can’t [...] [...more]
If you’ve been waiting to take advantage of low HELOC rates, now may be the time. PenFed is offering HELOCs at just 3.25%. Monitor Bank Rates explains: “Pentagon Federal Credit Union is offering a home equity line of credit (HELOC) with an annual percentage yield (APR) of 3.25 percent. The rate is prime plus 0 [...] [...more]
