Anonymous
Post 12/11/2016 19:49     Subject: Any reason to have a HELOC?
It can act as an emergency fund if needed. Or it can provide quick liquidity for major expenses. Ours didn't have any closing costs, so why not get one?
Anonymous
Post 12/09/2016 23:02     Subject: Any reason to have a HELOC?
Anonymous wrote:House = ATM. It's not about a new roof, it's about a new SUV.


Huh. More like food on the table, medicine for kid.
Anonymous
Post 12/09/2016 22:52     Subject: Any reason to have a HELOC?
House = ATM. It's not about a new roof, it's about a new SUV.
Anonymous
Post 12/09/2016 22:44     Subject: Any reason to have a HELOC?
Anonymous wrote:Maybe you lose your job and can't find one for another year or two and you need money to live off of, but no one will give you a loan since you don't have a job.


This is real life for me.
Anonymous
Post 12/09/2016 20:14     Subject: Any reason to have a HELOC?
Maybe you lose your job and can't find one for another year or two and you need money to live off of, but no one will give you a loan since you don't have a job.
Anonymous
Post 12/09/2016 20:12     Subject: Any reason to have a HELOC?
Anonymous wrote:
Anonymous wrote:Tuition for spring semester is due before Dec bonus hits
Need new roof NOW (major leak)
Unexpected medical expenses
Once in a life time opportunity arrises


Shouldn't savings be in place so you don't have to use the HELOC?


Should and Are are two different things
Anonymous
Post 12/09/2016 20:04     Subject: Any reason to have a HELOC?
Anonymous wrote:Tuition for spring semester is due before Dec bonus hits
Need new roof NOW (major leak)
Unexpected medical expenses
Once in a life time opportunity arrises


Shouldn't savings be in place so you don't have to use the HELOC?
Anonymous
Post 12/09/2016 19:58     Subject: Any reason to have a HELOC?
Tuition for spring semester is due before Dec bonus hits
Need new roof NOW (major leak)
Unexpected medical expenses
Once in a life time opportunity arrises
Anonymous
Post 12/09/2016 19:16     Subject: Any reason to have a HELOC?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Because unexpected things happen in life.

I understand maybe up to $50 000. But is more necessary?


Why not? If you don't need it and are responsible, no issues. But expensive shit happens . . .


Ok, like what?
Anonymous
Post 12/09/2016 19:15     Subject: Any reason to have a HELOC?
Anonymous wrote:
Anonymous wrote:Because unexpected things happen in life.

I understand maybe up to $50 000. But is more necessary?


Why not? If you don't need it and are responsible, no issues. But expensive shit happens . . .
Anonymous
Post 12/09/2016 19:09     Subject: Re:Any reason to have a HELOC?
They like being in debt.
Anonymous
Post 12/09/2016 19:01     Subject: Any reason to have a HELOC?
Anonymous wrote:Because unexpected things happen in life.

I understand maybe up to $50 000. But is more necessary?
Anonymous
Post 12/09/2016 18:57     Subject: Any reason to have a HELOC?
To make bail?
Anonymous
Post 12/09/2016 18:53     Subject: Any reason to have a HELOC?
Because unexpected things happen in life.
Anonymous
Post 12/09/2016 18:48     Subject: Any reason to have a HELOC?
If you aren't planning renovations, is there a reason to keep it?
Isn't it just temptation?
Why would anyone need access to several hundred thousand?