Quote:
|
Originally Posted by MrHunters
Ive heard you shouldnt use equity because you are not getting a return on this investment... for example, you use equity for an addition which will improve the value of your house. etc etc.
|
I can't say I totally agree with this. If you are going to get a loan, whats the difference if it is a boat loan/car loan/home loan? It is still money you owe to a bank. So, if you have equity in your home, and you don't need the money to do major work, then I say use the home equity, and try to pay it off as fast as possible. just be responsible and your are good to go.
I'm sure jonny has lots of equity as he is living on the water, and that market is sky high, and will come down the slowest. waterfront....someday!
Threaded Mode