7 Critical Questions Every HELOC User Should Answer | EP 89 | RYU Podcast
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- Опубликовано: 9 фев 2025
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In this episode of the Replace University Podcast, host Michael Lush dives into the benefits of using Home Equity Lines of Credit (HELOCs) versus traditional mortgages, focusing on their flexibility and strategic advantages. He presents seven essential questions to consider for maximizing a HELOC's potential, including choosing the right interest rate index, employing offset accounting for interest savings, and leveraging HELOCs with other financial products for wealth creation. Lush also explains "rate stacking" for minimizing interest costs and the innovative use of HELOCs as a temporary income source during financial hardships. This episode serves as a guide for homeowners interested in using HELOCs wisely to achieve financial freedom and build a legacy.
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Awesome! Used HELOC to pay 30 year mortgage in 1 month with 2 more to go. However need one more electronic in nature with credit card, debit card, etc. Great information.
What happens when your bank freezes your HELOC and you still need to pay your monthly interest payment but you are not able to use your line of credit. Thoughts.
Sounds a lot like a mortgage.
So if u take a heloc out snd DONT use it, you are not charged any interest correct? Like a credit card.
That's correct
Correct
Correct only if you use it