The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: saveslivesbyday who wrote (87010)	8/28/2007 4:28:49 PM
From: GraceZ	Read Replies (2) of 306849

The point is - we paid off the HELOC, and for goodness sakes didn't use it to buy a new car or color TV ...... I think you'll find that when you talk to people who have tapped home equity this is common. The vast majority of people who take out home equity loans tend to use the cash to improve their RE holdings and they are continually retiring these loans. The amount flowing into home improvement dwarfs the amounts drawn down. Typically people use a mix of borrowing and savings to make major improvements and to buy investment property. If anything houses have sucked up cash, not been a source of it.

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