Lee and Doug discuss the benefits of Home Equity Lines of Credit (HELOCs), particularly for seniors or those nearing retirement who want to leverage the equity in their homes without moving or refinancing their low-interest mortgages.
The conversation also touches on the potential of using HELOC funds to invest in dividend-yielding stocks or bonds, creating a small arbitrage opportunity where the investment's yield could exceed the HELOC interest rate.
The first step in obtaining a HELOC should be to contact the bank that holds your mortgage, as they are likely to offer better terms than a new lender.
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