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In this episode, we ask:
- What’s the definition of an asset?
- Is your home an asset or a liability?
- What’s the definition of a liability?
- Is your home an asset or a liability?
- Is your investment property an asset or a liability?
- Since we have to live somewhere, what would be some not-so-average ways of using home equity to your advantage?
- What is a home equity line of credit (a HELOC)?
- What’s the advantage to you?
- What’s the advantage to the bank?
- How can you keep the bank happy?
- What are the terms on a HELOC?
- Can you deduct the HELOC interest?
- How is a HELOC just like Bank on Yourself?
- How is a HELOC different from Bank on Yourself?
- What are the gotchas with HELOCs?
- What sort of interest do the banks charge on HELOCs?
- What happens if the home falls in value?
- Can you go underwater in a life insurance policy?
- Can a life insurance policy affect your credit score?
- What is a callable loan?
- Is a HELOC a callable loan?
- Can the bank cancel a line of credit on a HELOC?
- When are banks most likely to change the terms of their loans?
- What’s the HELOC / Mortgage / Credit Card strategy?
- What happens if you want to start a business or have a medical bill come up?
- What’s a variable rate loan?
- Why might you not want to pay off your mortgage?
- How does Bank on Yourself put you in control?
- What about a refinance?
- What are the two types of refinancing?
- Where are we right now with home values?
- What is cash out equity harvesting?
- What about reverse mortgages?
- Which is more important to you: to have your home paid off or to never have a mortgage payment again in your life?
- What if you could have the bank pay you to live in your home?
- What is a HECM loan?
- What is the payout on a reverse mortgage like?
- What is the repayment requirement on a reverse mortgage?
- What reverse mortgage options exist?
- Are reverse mortgages dangerous?
- Why would I ever consider a reverse mortgage?
- What ages are eligible for a reverse mortgage?
- Do reverse mortgages eliminate the mortgage payments?
- How do you know if you’re a good fit or not?
- How can you use your home equity strategically for your highest benefit?
