Quote:
Originally Posted by Fuzz
I'd think the demographic that could pay off a mortgage is also financially restrained enough to avoid dipping into a HELOC for fun.
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I don't know why I laughed out loud so much at this post. I pictured someone falling backwards into their computer chair and 'accidently' putting in their login credentials to their bank HELOC and buying a Ferrari at the same time.
I would venture that the demographics of people who have a paid off house(s) whose only safeguard from financial ruin is the burden of HELOC loan underwriting/application process is next to nil.