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helocs can be a real problem for emergency source of funds. im still trying to figure out how most people can afford to pay a loan back at the same time they are in a cash crunch. i think there are very few situations for most where counting on the heloc as the same has having had your own real cash will be a better idea... the only people who should do this are those that have the money and dont really need the loan but do so out of convience more than necessity. if you have lots of assets and can liquidate them in a heartbeat to pay the loan back then i can see it
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