 Quote:
Originally Posted by thefed
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
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That is just it, people like you are on point and use it wisely to move money to the needs of your corporation. too many use it to buy flat screen tvs, cars that are well over 30K and vacations because they say they deserve it.
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