My HELOC was just yanked.

[JWM in SD]

JWM in SD

Here is all you need to know about what “Equity” really means:

Assets – Liabilities = Owner’s Equity

Accounting 101 my friends.

[Deal Hunter]

Sucks, but for the best, man.

True liquidity is not being in debt or leveraged at all, but have cash to wave around at opportunity. If a maxed out HELOC helps you cushion existing liabilities, there’s no real liquidity in that situation.

Time for us all to rethink how we go about spending and investing. Tide will go back out (real estate will come back), but how long can you hold your breath in the meantime?

[Deal Hunter]

Sucks, but for the best, man.

True liquidity is not being in debt or leveraged at all, but have cash to wave around at opportunity. If a maxed out HELOC helps you cushion existing liabilities, there’s no real liquidity in that situation.

Time for us all to rethink how we go about spending and investing. Tide will go back out (real estate will come back), but how long can you hold your breath in the meantime?

[Deal Hunter]

Sucks, but for the best, man.

True liquidity is not being in debt or leveraged at all, but have cash to wave around at opportunity. If a maxed out HELOC helps you cushion existing liabilities, there’s no real liquidity in that situation.

Time for us all to rethink how we go about spending and investing. Tide will go back out (real estate will come back), but how long can you hold your breath in the meantime?

[Deal Hunter]

Sucks, but for the best, man.

True liquidity is not being in debt or leveraged at all, but have cash to wave around at opportunity. If a maxed out HELOC helps you cushion existing liabilities, there’s no real liquidity in that situation.

Time for us all to rethink how we go about spending and investing. Tide will go back out (real estate will come back), but how long can you hold your breath in the meantime?

[Deal Hunter]

Sucks, but for the best, man.

True liquidity is not being in debt or leveraged at all, but have cash to wave around at opportunity. If a maxed out HELOC helps you cushion existing liabilities, there’s no real liquidity in that situation.

Time for us all to rethink how we go about spending and investing. Tide will go back out (real estate will come back), but how long can you hold your breath in the meantime?

[Wickedheart]

I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.

You are kidding me, right? That is the dumbest thing I’ve ever heard. A 30 year loan to buy a car. Most people drive a car, what, 6 to 7 years tops. That car will be scrap metal a time long before it’s paid for. And that car will cost you more than double the purchase price by stretching the payments over 30 years. A 25k car will be a 55k. No way will that pencil out in tax deductions, that like stepping over dimes and quarters to pick up nickels and pennies. I think if you can’t afford to buy a car with a 4 year loan then you can’t afford it.

[Wickedheart]

I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.

You are kidding me, right? That is the dumbest thing I’ve ever heard. A 30 year loan to buy a car. Most people drive a car, what, 6 to 7 years tops. That car will be scrap metal a time long before it’s paid for. And that car will cost you more than double the purchase price by stretching the payments over 30 years. A 25k car will be a 55k. No way will that pencil out in tax deductions, that like stepping over dimes and quarters to pick up nickels and pennies. I think if you can’t afford to buy a car with a 4 year loan then you can’t afford it.

[Wickedheart]

I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.

You are kidding me, right? That is the dumbest thing I’ve ever heard. A 30 year loan to buy a car. Most people drive a car, what, 6 to 7 years tops. That car will be scrap metal a time long before it’s paid for. And that car will cost you more than double the purchase price by stretching the payments over 30 years. A 25k car will be a 55k. No way will that pencil out in tax deductions, that like stepping over dimes and quarters to pick up nickels and pennies. I think if you can’t afford to buy a car with a 4 year loan then you can’t afford it.

[Wickedheart]

I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.

You are kidding me, right? That is the dumbest thing I’ve ever heard. A 30 year loan to buy a car. Most people drive a car, what, 6 to 7 years tops. That car will be scrap metal a time long before it’s paid for. And that car will cost you more than double the purchase price by stretching the payments over 30 years. A 25k car will be a 55k. No way will that pencil out in tax deductions, that like stepping over dimes and quarters to pick up nickels and pennies. I think if you can’t afford to buy a car with a 4 year loan then you can’t afford it.

[Wickedheart]

I can see using a Heloc to purchase a car. It’s purchase you would make anyway so you might as well get a tax deduction.

You are kidding me, right? That is the dumbest thing I’ve ever heard. A 30 year loan to buy a car. Most people drive a car, what, 6 to 7 years tops. That car will be scrap metal a time long before it’s paid for. And that car will cost you more than double the purchase price by stretching the payments over 30 years. A 25k car will be a 55k. No way will that pencil out in tax deductions, that like stepping over dimes and quarters to pick up nickels and pennies. I think if you can’t afford to buy a car with a 4 year loan then you can’t afford it.

[unbiasedobserver]

The concept of a HELOC is freakin’ nuts, write a check and it’s added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

[unbiasedobserver]

The concept of a HELOC is freakin’ nuts, write a check and it’s added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

[unbiasedobserver]

The concept of a HELOC is freakin’ nuts, write a check and it’s added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

[unbiasedobserver]

The concept of a HELOC is freakin’ nuts, write a check and it’s added to your loan balance, who the h*ll ever thought up this idea and when? I suspect there are thousands of realtors and mortgage brokers currently living off their HELOCS, I personally know a few of them. This will be devastating news to many.

[Author]

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