- This topic has 95 replies, 11 voices, and was last updated 16 years, 3 months ago by
NotCranky.
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May 28, 2008 at 3:53 PM #213081May 28, 2008 at 4:26 PM #213119
patientlywaiting
ParticipantI read somewhere about a Realtor who was planning to using is HELOC to pay his mortgage and get buy while business is slow. Oh well, too bad…
I think that word “equity” is the key here. Without equity, there’s no line of credit.
May 28, 2008 at 4:26 PM #213196patientlywaiting
ParticipantI read somewhere about a Realtor who was planning to using is HELOC to pay his mortgage and get buy while business is slow. Oh well, too bad…
I think that word “equity” is the key here. Without equity, there’s no line of credit.
May 28, 2008 at 4:26 PM #213166patientlywaiting
ParticipantI read somewhere about a Realtor who was planning to using is HELOC to pay his mortgage and get buy while business is slow. Oh well, too bad…
I think that word “equity” is the key here. Without equity, there’s no line of credit.
May 28, 2008 at 4:26 PM #213043patientlywaiting
ParticipantI read somewhere about a Realtor who was planning to using is HELOC to pay his mortgage and get buy while business is slow. Oh well, too bad…
I think that word “equity” is the key here. Without equity, there’s no line of credit.
May 28, 2008 at 4:26 PM #213143patientlywaiting
ParticipantI read somewhere about a Realtor who was planning to using is HELOC to pay his mortgage and get buy while business is slow. Oh well, too bad…
I think that word “equity” is the key here. Without equity, there’s no line of credit.
May 28, 2008 at 4:38 PM #213212meadandale
Participant“I think that word “equity” is the key here. Without equity, there’s no line of credit.”
Which essentially means that you are borrowing against your house.
Dave Ramsey, who’s advice can be good and bad, implores people to pay off their house rather than use the money for investments. He asks, “Would you borrow money against your house to play the stock market?”. Most people immediately respond in the negative. Apparently a couple of people here haven’t gotten the memo.
Hopefully ocrenter won’t be posting about them in the near future.
May 28, 2008 at 4:38 PM #213183meadandale
Participant“I think that word “equity” is the key here. Without equity, there’s no line of credit.”
Which essentially means that you are borrowing against your house.
Dave Ramsey, who’s advice can be good and bad, implores people to pay off their house rather than use the money for investments. He asks, “Would you borrow money against your house to play the stock market?”. Most people immediately respond in the negative. Apparently a couple of people here haven’t gotten the memo.
Hopefully ocrenter won’t be posting about them in the near future.
May 28, 2008 at 4:38 PM #213158meadandale
Participant“I think that word “equity” is the key here. Without equity, there’s no line of credit.”
Which essentially means that you are borrowing against your house.
Dave Ramsey, who’s advice can be good and bad, implores people to pay off their house rather than use the money for investments. He asks, “Would you borrow money against your house to play the stock market?”. Most people immediately respond in the negative. Apparently a couple of people here haven’t gotten the memo.
Hopefully ocrenter won’t be posting about them in the near future.
May 28, 2008 at 4:38 PM #213058meadandale
Participant“I think that word “equity” is the key here. Without equity, there’s no line of credit.”
Which essentially means that you are borrowing against your house.
Dave Ramsey, who’s advice can be good and bad, implores people to pay off their house rather than use the money for investments. He asks, “Would you borrow money against your house to play the stock market?”. Most people immediately respond in the negative. Apparently a couple of people here haven’t gotten the memo.
Hopefully ocrenter won’t be posting about them in the near future.
May 28, 2008 at 4:38 PM #213134meadandale
Participant“I think that word “equity” is the key here. Without equity, there’s no line of credit.”
Which essentially means that you are borrowing against your house.
Dave Ramsey, who’s advice can be good and bad, implores people to pay off their house rather than use the money for investments. He asks, “Would you borrow money against your house to play the stock market?”. Most people immediately respond in the negative. Apparently a couple of people here haven’t gotten the memo.
Hopefully ocrenter won’t be posting about them in the near future.
May 28, 2008 at 4:46 PM #213139EconProf
ParticipantBobS
FormerSanDiegan and Rustico: you guys get it. Radelow & meadandale need to reread my original post. It is about having the liquidity to swoop in and buy at the bottom.
The 3% differential is the cost of keeping liquid. It is not for consumption, mortgage payments, or to look at. It is to keep handy for a screamingly good investment when the bottom comes. When a desperate seller gets my purchase offer with a low-ball price, and a carbon copy of the bank cashier’s check I’ve just drawn with his name on it for the amount I am willing to pay and with a 7-day closing, no financing, then the “cash is king” rule will apply.
BTW, businesses large and small, routinely pay an annual fee to have access to a bank line of credit, just in case of emergency.May 28, 2008 at 4:46 PM #213061EconProf
ParticipantBobS
FormerSanDiegan and Rustico: you guys get it. Radelow & meadandale need to reread my original post. It is about having the liquidity to swoop in and buy at the bottom.
The 3% differential is the cost of keeping liquid. It is not for consumption, mortgage payments, or to look at. It is to keep handy for a screamingly good investment when the bottom comes. When a desperate seller gets my purchase offer with a low-ball price, and a carbon copy of the bank cashier’s check I’ve just drawn with his name on it for the amount I am willing to pay and with a 7-day closing, no financing, then the “cash is king” rule will apply.
BTW, businesses large and small, routinely pay an annual fee to have access to a bank line of credit, just in case of emergency.May 28, 2008 at 4:46 PM #213163EconProf
ParticipantBobS
FormerSanDiegan and Rustico: you guys get it. Radelow & meadandale need to reread my original post. It is about having the liquidity to swoop in and buy at the bottom.
The 3% differential is the cost of keeping liquid. It is not for consumption, mortgage payments, or to look at. It is to keep handy for a screamingly good investment when the bottom comes. When a desperate seller gets my purchase offer with a low-ball price, and a carbon copy of the bank cashier’s check I’ve just drawn with his name on it for the amount I am willing to pay and with a 7-day closing, no financing, then the “cash is king” rule will apply.
BTW, businesses large and small, routinely pay an annual fee to have access to a bank line of credit, just in case of emergency.May 28, 2008 at 4:46 PM #213186EconProf
ParticipantBobS
FormerSanDiegan and Rustico: you guys get it. Radelow & meadandale need to reread my original post. It is about having the liquidity to swoop in and buy at the bottom.
The 3% differential is the cost of keeping liquid. It is not for consumption, mortgage payments, or to look at. It is to keep handy for a screamingly good investment when the bottom comes. When a desperate seller gets my purchase offer with a low-ball price, and a carbon copy of the bank cashier’s check I’ve just drawn with his name on it for the amount I am willing to pay and with a 7-day closing, no financing, then the “cash is king” rule will apply.
BTW, businesses large and small, routinely pay an annual fee to have access to a bank line of credit, just in case of emergency. -
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