Episode 40: House Equity – The Money in the Walls

In this episode, we ask: What’s the definition of an asset? Is your home an asset or a liability? What’s the definition of a liability? Is your home an asset or a liability? Is your investment property an asset or a liability? Since we have to live somewhere, what would be some not-so-average ways of...

In this episode, we ask:

What’s the definition of an asset?
Is your home an asset or a liability?
What’s the definition of a liability?
Is your home an asset or a liability?
Is your investment property an asset or a liability?
Since we have to live somewhere, what would be some not-so-average ways of using home equity to your advantage?
What is a home equity line of credit (a HELOC)?
What’s the advantage to you?
What’s the advantage to the bank?
How can you keep the bank happy?
What are the terms on a HELOC?
Can you deduct the HELOC interest?
How is a HELOC just like Bank on Yourself?
How is a HELOC different from Bank on Yourself?
What are the gotchas with HELOCs?
What sort of interest do the banks charge on HELOCs?
What happens if the home falls in value?
Can you go underwater in a life insurance policy?
Can a life insurance policy affect your credit score?
What is a callable loan?
Is a HELOC a callable loan?
Can the bank cancel a line of credit on a HELOC?
When are banks most likely to change the terms of their loans?
What’s the HELOC / Mortgage / Credit Card strategy?
What happens if you want to start a business or have a medical bill come up?
What’s a variable rate loan?
Why might you not want to pay off your mortgage?
How does Bank on Yourself put you in control?
What about a refinance?
What are the two types of refinancing?
Where are we right now with home values?
What is cash out equity harvesting?
What about reverse mortgages?
Which is more important to you: to have your home paid off or to never have a mortgage payment again in your life?
What if you could have the bank pay you to live in your home?
What is a HECM loan?
What is the payout on a reverse mortgage like?
What is the repayment requirement on a reverse mortgage?
What reverse mortgage options exist?
Are reverse mortgages dangerous?
Why would I ever consider a reverse mortgage?
What ages are eligible for a reverse mortgage?
Do reverse mortgages eliminate the mortgage payments?
How do you know if you’re a good fit or not?
How can you use your home equity strategically for your highest benefit?