My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?
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I would use part of the interest earned to pay the loan. I have $500,000 equity. My mortgage balance is $350,000.
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?never borrow to invest money, its stupid because it will take years longer to pay off your house and you are putting steady and safe money (home equity) into risky investments, if you have a half million in equity you are halfway to retirement, don't blow that over some silly risk to try to make a few extra bucks.
Fire your broker and get someone who actually understands money.
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?All the comments are correct..
THe only exception I would make is:
If u can get a very very low rate on the equity in a loan or lineofcredit or similar....otherwise its stupid.
Generally I agree...but if the loanrate is very very very low and you are not a lowincome person. YOu could swing it. Report It
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?stupid fire him today. very dumb. never borrow to invest money. never
look into paying that mortgage off.... and investing income in roth IRAs, and pre-tax retirement... and mutual funds.
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?More Related Questions and Answers ...
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