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thefed · 02-23-2008, 11:51 AM

I use my equity lines as a reserve, as leverage, as temporary credit, etc.

IF my bank were to rescind these,I'd be bummed out too. I keep 25k in cash for just that reason....what if my HELOC's 'go away'....and I had no CASH...I'd be tapping retirement accts!! no thanks

I use these responsibly though...for instance I am now writing a $3k check from one to side a rental. The next 6months rent will go toward that balance. I also use them to transfer a few balances around to keep my ccard companies sending those 0% offers....

I also use them as 'revolving credit lines' for business expenses,which thiss pring might be $10k....but that10k will be paid off by june-july

02-23-2008, 11:51 AM	#4
thefed Thinks s/he gets paid by the post Join Date: Oct 2005 Posts: 1,793	I use my equity lines as a reserve, as leverage, as temporary credit, etc. IF my bank were to rescind these,I'd be bummed out too. I keep 25k in cash for just that reason....what if my HELOC's 'go away'....and I had no CASH...I'd be tapping retirement accts!! no thanks I use these responsibly though...for instance I am now writing a $3k check from one to side a rental. The next 6months rent will go toward that balance. I also use them to transfer a few balances around to keep my ccard companies sending those 0% offers.... I also use them as 'revolving credit lines' for business expenses,which thiss pring might be $10k....but that10k will be paid off by june-july