 Quote:
Originally Posted by cute fuzzy bunny
If and when I hit a situation where I'm faced with "okay, checking account is empty, markets are down so I dont want to sell any investments right now, I have some bills to pay", I can either sell something, get a temporary PT job, use the heloc, use my overdraft/line-of-credit, use a credit card, or any one of another dozen options.
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Exactly!
However, in that particular circumstance, a HELOC is a little hard to use unless it is already set up. Therefore, a little advance planning is necessary -- like having it already in place -- since any mortgage requires tons of paperwork, inspections, and other such time consuming activities.
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