Thread: Home Equity????
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Old 09-20-2006, 07:15 PM   #24
White Doors
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Quote:
Originally Posted by Red View Post
Real estate is a great way to invest, but sadly HELOCs are mostly spent on new vehicles, vacations and other luxuries. People keep living in the same houses, have the same jobs etc, but were just preapproved for an interest only, 6 figure loan. They will spend money they don't have and that's never good. You and I agree on this, but a lot of people miss the point that they will have to pay it off at some point. Oh well, not my money :-)
Exactly. bankruptcy auctions are a great time to get some good deals!
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