Quote:
Originally Posted by Slava
Well it's not only that though. It's that you'd pay say $1000 for the title insurance policy (on a million dollar home) and the HELOC sitting there unused is basically zero. Yes, you need some self-control and can't use that LOC "just because", but it's not the worst option. And really, this is a problem for houses that are free and clear, so it's a different demographic than just "anyone with a house".
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I'd think the demographic that could pay off a mortgage is also financially restrained enough to avoid dipping into a HELOC for fun.