Reply to How big is your heloc line of credit???

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Don't have one. Don't want one. Not interested in taking out debt against my home. [/quote]

a line of credit isn't debt unless you spend it.  we have one in case of dire emergency - its nice knowing its available if we need it.[/quote]

Going into debt against my home during a time of dire emergency is scarier to me than the other options (pulling from retirement/Roth principle, credit cards, etc). When I'm in the midst of a crisis, the last thing I want to do is put my house on the line. [/quote]

depends. I was over under on a $600k home in Las Vegas but had a $250k heloc. Couldn't get a refi on my primary, so I took the heloc, bought 6 condo units nearby at 1/4th their value a year prior and walked away from the house. It went into foreclosure a year later, I sold a condo for 250% more than I paid (kept the other 5) and used the funds to buy the house back from the bank. Sure I had the foreclosure hit on my credit but I walked away with what I eventually solid for about $3,5M total. Worth the trade.[/quote]

Scum[/quote]

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