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jonunderwood007 · Joined: 03 Sep 2009 Posts: 38 -0.40 Dollars($)

What are possible uses for a home equity line of credit or loan

jvondrak · Joined: 08 Sep 2009 Posts: 2 2.02 Dollars($)

One of the biggest benefits of a home equity line of credit is that you are not charged interest on it until you use it. This allows for a safety net in unfortunate circumstances such as a job loss, unexpected expenses, etc... A home equity line of credit is also beneficial in the fact that it is secured by your home which allows the interest to be tax deductable (in most cases).

An equity line of credit can be used for anything from debt consolidation to home improvements or, again, simply just as a safety net.

Jason Vondrak, President
Prospect Financial Group, Inc.
License #: 01779147
858-605-6146
jvdonrak@prospectfgi.com
www.prospectfgi.com

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

You get the money out of the house and buy anythign you like or you cna invest where you think is is good

All kinds of stuff

jonunderwood007 · Joined: 03 Sep 2009 Posts: 38 -0.40 Dollars($)

thanks for replying me

nelsoncarolyn1946 · Joined: 03 Sep 2009 Posts: 38 0.00 Dollars($)

hi,

welcome to the forum

Home improvements and debt are two of the most popular uses of home equity financing, but you can use the extra funds for whatever you want. Paying for major expenses like a wedding, your education, and car repairs are among the many possibilities.the interest on a home equity loan or line of credit may be tax deductible.

smithsara302 · Joined: 12 Jun 2009 Posts: 116 -2.38 Dollars($)

Home improvement is better option .

catharin9 · Joined: 14 Jul 2009 Posts: 168 -0.14 Dollars($)

Two important basic things i want to share-

Home Equity Lines of Credit — A variable rate line of credit with a fixed rate option
Home Equity Loans — A fixed rate loan with fixed monthly payments

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