Quote:
Originally posted by Bertuzzied@Mar 1 2005, 01:29 PM
Try and get a home secure line of credit! it's the best way to go. Interest rate at prime. My monthly payments went from $1300/month to $600/month. I had to pay a big ass payout penalty! it was over 6 grand!
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That's interest only though right?
If you chose a variable rate mortgage you'd be paying similar interest, but with a set amount also going to principle each month.
I'm not saying the HELOC idea is bad, just want to make sure I understand it correctly.