Money Talks w Greg and Dan - HELOC

Easily confused with a second mortgage or home loan, a Home Equity Line Of Credit provides homeowners an opportunity to tap into their home’s value for cash – with the flexibility to draw on it as needed instead of taking a lump sum. It’s almost like having an open checkbook for home renovations, emergencies or other personal need – but paying interest only on what you use (often for rates lower than a credit card).

On this episode of Money Talks, we discuss the pros, cons, and versatility of HELOCs, and why they’re an important tool to discuss with your financial advisor.