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Updated almost 10 years ago on . Most recent reply

Josip Galic's profile image
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Josip Galic
  • Investor
  • from Grand Rapids, Michigan
  • Member since Dec 28, 2014
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Josip Galic's profile image
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Josip Galic
  • Investor
  • from Grand Rapids, Michigan
  • Member since Dec 28, 2014
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Josip Galic
  • Investor
  • Grand Rapids, MI
3
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18
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Personal Finance

Home Equity Loans

Josip Galic
  • Investor
  • Grand Rapids, MI
Posted

What have your experiences been like with Home Equity Loans? Positive and negatives; what caused you to use them versus other forms of credit?

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Jeff Rabinowitz
  • Investor/Landlord
  • from Farmington Hills, Michigan
  • Member since Dec 7, 2011
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Jeff Rabinowitz
  • Investor/Landlord
  • from Farmington Hills, Michigan
  • Member since Dec 7, 2011
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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
Replied

I took one out 10 years ago and it has been a powerful tool. You may borrow only what you need for your deal and pay down the balance at any time to keep your interest charges low. I was able to link my HELOC with my other accounts so the transfers into or out from the credit line can be done in seconds and the funds are available immediately.

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