My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?
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It's not a bad idea if the return on the investment will be higher than the interest paid on the loan.
Will the investment be guaranteed?
Probably not a good idea to invest you equity in the stock market though.
Do your own research, don't be pressured, it is your house on the line after all!
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?sounds like a great way for him to make a commission fire him immediately!
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?What would the loan rate be and is it a fixed rate? What would be the return on the investment? Is it a guaranteed rate? If the return is substantially larger, then it might be worth your while. If the loan is not fixed and the investment isn't fixed I would definitely say no. Also, what is your relationship with your adviser? How have their other recommendations panned out? With all of these questions plus others that I didn't write, my gut feeling says no, don't do it.
My financial advisor wants me to get a $100,000 home equity loan and he will invest it. Good idea?Bad idea to risk your home equity like that, especially since 100K would burn up most of your equity.
Your advisor doesn't sound like he's interested in you, but rather in himself.
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