NonDawg Home equity line of credit

[ghambone]

Try Georgia’s own credit union

Good call, one of my clients please do. They are efficient and honest

 

[AthensDawg189]

I could be wrong, but I think he is just thinking in terms of what it cost to actually do the loan. If you don't need a lot of money paying closing cost on a mortgage or even the lesser fees involved in a HELOC, might not make a lot of sense.

Sure, you wouldn’t do it to pay off $2,500, but I would assume if your looking to do a refi or HELOC we would be talking about much larger sums.

 

[SnowSkiDawg]

Haha! Started as an examiner several years ago. Not in the field anymore, but definitely miss getting to meet and talk with bankers across the southeast. As I’m sure you’re familiar, bankers can sometimes get a bad rap and sometimes it is deserved, but I always found that most are great people who truly care about helping their communities and customers whenever possible.

So they are pretty much human.....huh? Who knew

 

[Fed_Dawg]

So they are pretty much human.....huh? Who knew

It was a compliment?

 

[Cridawg]

You can if you use the funds for home improvement, and the interest on the refinanced amount is still deductible.

True, it goes to the same rule as a HELOC as stated above. It's the "interest tracing rules" that come into play. For what are the proceeds used. I was referring to "acquisition debt" alone. Two different subsets of the same issue.