Contact me today! 888-862-5068
Jill Korenaga
CA
DRE 01278138 | NMLS 302856
CMG Certified All -In-One Expert
1st Pacific Capital Corporation
CA
DRE 01846523 | NMLS 75239
888-862-5068
Showing posts with label debt free. Show all posts
Showing posts with label debt free. Show all posts
FAQ #20. Isn’t access to all that equity a bit dangerous?
You need to be disciplined. But, if you have a good credit history, you get credit card offers each week, and can easily open a home equity line of credit to access your home’s available equity. Any of these offer you the same ability to get into financial trouble. We don’t expect our customers to change their good financial habits just because they take out the HOA.
FAQ #16. What happens if I miss a payment?
The loan is ideal for people whose income might vary. During the first 10 years, you only owe interest, which is automatically added to your principal balance monthly, so there’s really no “payment” to make as long as your principal balance stays below your credit line amount. The only payment you need to make is to stay below your credit line amount.
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