I was listening to Suze Orman and heard a caller say that they own their home outright with no mortgage but then went on to say that they had a $50,000 HELOC.
It's disturbing to hear how many people don't think of a home equity loan or line of credit as being the same as a mortgage. Sorry folks, but you don't own your home free and clear if you have a HEL/HELOC.
It's disturbing to hear how many people don't think of a home equity loan or line of credit as being the same as a mortgage. Sorry folks, but you don't own your home free and clear if you have a HEL/HELOC.
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