Is taking out a HELOC a good idea?
I’m in the final stages of applying for a HELOC. I’m doing this in order to cover major, unexpected, future expenses like a new roof, big medical bill, major plumbing repair, etc.
Does anyone have strong feelings about the advantages/disadvantages of HELOCS? I’d be interested in reading them.
This question is in the General Section. Responses must be helpful and on-topic.