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Reply to "I need about $20k to get us through a layoff-home equity loan?"
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[quote=Anonymous][quote=Anonymous]Why has this thread already gone on four pages? OP is basically asking the following: “Is it OK to dip in to my $700K pile of cash to cover a $20K emergency?” The correct answer is, “No shit, Sherlock.”[/quote] +1 Worst case scenario you can't pay it back then and then have to sell the house to keep your good credit score. It's a risk but so are other options. But first I would look into the hardship 401K withdrawal and renting out your home. For what it's worth we lived in a tiny apartment for two kids for a long time. It wasn't uncomfortable but it saved us a lot of money and was worth it. [/quote]
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