I have a LoC and it works for me since my income flunctuates from month to month, another advantage is that, as long as you have some equity (part of that LoC paid off), you don't need to go out and get another loan if you need temporary cash flow up to that amount - note I said temporary, you have to be responsible enough to put the cash back in once you have everything worked out, like a credit card it's convenient if you use it properly and detrimental if you don't.
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