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Will Your Home Equity Line of Credit Be There When You Need It?

If you have a home equity line of credit — what the industry calls a “HELOC” — you probably think of it as a financial safety net, quick cash you can access in times of emergency or when you face a big expense that can’t otherwise be paid all at once.
Unfortunately, HELOCs have been [...]

20Sep2008 | Peter G. Miller | 0 comments | Continued
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Must I Pay Off All Credit Cards To Get a Mortgage?

No. Lenders do not expect individuals to be debt free — though that certainly would be helpful.
What lenders do expect is that prospective borrowers will have debt which is within their means — not too much in total, and not too much in terms of monthly payments and always paid in full and on time.
Generally, [...]

31Aug2008 | Peter G. Miller | 0 comments | Continued
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Is Too Much Cash A Real Estate Problem?

It’s difficult to imagine that mounds of cash might be a problem, but in some circles a surplus of coins is raising a concern: What to do with real estate dollars now that the housing market in some areas is slowing.
In a rising market the strategy is easy: Use leverage and get as much [...]

19Aug2008 | Peter G. Miller | 0 comments | Continued