Tag Archive | "savings accounts"

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HELOC Withdrawals: Not a Safety Net?

I’ve posted before about the option of withdrawing HELOC money as a safety net. Many HELOC lenders have been reducing or freezing lines, so in some cases it makes sense to preempt this possibility by withdrawing money early. An Early Show article disagrees with this strategy, claiming that HELOC “hording” is reactionary and a poor financial [...] [...more]

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Strategic Withdrawals to Avoid the HELOC Freeze

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 downside [...] [...more]

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