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]
Because of the recent home equity line of credit freezes, many borrowers are choosing to withdraw their available balance and save it for future use. This isn’t a good strategy if you don’t plan on using the money soon – your withdrawal will cost you. However, low interest rates make it possible for borrowers to [...] [...more]
Some financial experts are advising HELOC customers to withdraw funds from their credit lines now, in case the HELOC freeze continues to spread. Over 100,000 borrowers have already been notified that their HELOC has been frozen or canceled – some speculate that the freeze notices will continue as the national real estate market declines. The [...] [...more]
