Comments on: Removing the HELOC temptation http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/ Personal finance, commentary, and spending less the easy way Sat, 21 Nov 2009 01:23:30 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Jerry http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/comment-page-1/#comment-126747 Jerry Fri, 29 Feb 2008 19:59:16 +0000 http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/#comment-126747 I agree with NCN. Having an emergency fund would remove the temptation of getting the heloc. I've seen too many friends of mine get into trouble when it comes to these loans and certainly in this market it's not a good idea. Mortgage companies want the insurance that property values will rise but in this sluggish economy coupled with the subprime debacle they don't want to risk it. And...we're selling our own house in the midst of all this. Wish us luck! Jerry www.leads4insurance.com I agree with NCN. Having an emergency fund would remove the temptation of getting the heloc. I’ve seen too many friends of mine get into trouble when it comes to these loans and certainly in this market it’s not a good idea. Mortgage companies want the insurance that property values will rise but in this sluggish economy coupled with the subprime debacle they don’t want to risk it. And…we’re selling our own house in the midst of all this. Wish us luck!

Jerry
http://www.leads4insurance.com

]]> By: NCN http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/comment-page-1/#comment-126647 NCN Thu, 28 Feb 2008 23:12:39 +0000 http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/#comment-126647 A good old fashioned cash emergency fund would remove some of this temptation. :) Here's what I see happening - folks borrow on their homes, promising themselves that they are going to 'change their behaviors'.. but, they don't really change - and a few months or years later, they have mortgage debt, heloc debt, and massive credit card debt. Wouldn't we all be better off if we focused on saving for emergencies? Rock ON! NCN A good old fashioned cash emergency fund would remove some of this temptation. :)
Here’s what I see happening – folks borrow on their homes, promising themselves that they are going to ‘change their behaviors’.. but, they don’t really change – and a few months or years later, they have mortgage debt, heloc debt, and massive credit card debt.
Wouldn’t we all be better off if we focused on saving for emergencies?
Rock ON!
NCN

]]> By: Removing the HELOC temptation · Business Card Information and Deals http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/comment-page-1/#comment-126353 Removing the HELOC temptation · Business Card Information and Deals Wed, 27 Feb 2008 06:55:08 +0000 http://www.mightybargainhunter.com/2008/02/27/removing-the-heloc-temptation/#comment-126353 [...] Original post by Mighty Bargain Hunter [...] [...] Original post by Mighty Bargain Hunter [...]

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