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#95 - Why Choose a HELOC Even If It Might Freeze? Is It Still Better Than a Mortgage?
Manage episode 429500004 series 2093982
Teaching how you can pay your mortgage off in 5 years or less. Here's how. đđź
To start building the life you want: â â https://replaceyouruniversity.com/â â
Follow Replace Your University on Instagram: â â â https://www.instagram.com/the_realryu/â â
Join Us on Facebook: â â â https://www.facebook.com/ReplaceYourUniversity/â â
Check out more tips and strategies on our YouTube channel: â â â https://www.youtube.com/@ReplaceYourUniversityâ
In this video, Michael Lush addresses Home Equity Lines of Credit (HELOC) concerns and the potential risks of account freezing. He explains the origins of these concerns, particularly during the 2008 financial crisis, and compares the flexibility of HELOCs to traditional mortgages. Lush emphasizes that, despite the possibility of freezing, HELOCs offer significant advantages, such as lower default rates and greater flexibility in financial hardship scenarios. He details how HELOCs allow homeowners to use their credit lines to make payments and manage expenses, providing a more adaptable financial tool compared to fixed mortgages.
99 episodes
Manage episode 429500004 series 2093982
Teaching how you can pay your mortgage off in 5 years or less. Here's how. đđź
To start building the life you want: â â https://replaceyouruniversity.com/â â
Follow Replace Your University on Instagram: â â â https://www.instagram.com/the_realryu/â â
Join Us on Facebook: â â â https://www.facebook.com/ReplaceYourUniversity/â â
Check out more tips and strategies on our YouTube channel: â â â https://www.youtube.com/@ReplaceYourUniversityâ
In this video, Michael Lush addresses Home Equity Lines of Credit (HELOC) concerns and the potential risks of account freezing. He explains the origins of these concerns, particularly during the 2008 financial crisis, and compares the flexibility of HELOCs to traditional mortgages. Lush emphasizes that, despite the possibility of freezing, HELOCs offer significant advantages, such as lower default rates and greater flexibility in financial hardship scenarios. He details how HELOCs allow homeowners to use their credit lines to make payments and manage expenses, providing a more adaptable financial tool compared to fixed mortgages.
99 episodes
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