02/09/2021
There are many letters in the mail, advertisements, and emails circulating for refinancing options. Please take the time to research the HELOC before making a decision. This is at its basic form a second mortgage on your house that operates under a secured line of credit. Meaning, if you stop making payments, then there are steps in place for the bank to regain their money even if it’s through foreclosure on your home. Check out the links that I attached for more details. If you are considering renovations or trying to improve the financial standing of your home, there are other options outside of the HELOC that are safer for your financial future. Use my Calendly link to book a complimentary coaching consultation if you are interested in more information.
https://www.investopedia.com/mortgage/heloc/home-equity-vs-heloc/
https://www.alllaw.com/articles/nolo/bankruptcy/heloc-bankruptcy.html
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