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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: J. P. who wrote (3503)	7/20/2002 2:30:47 PM
From: J. P.	Read Replies (2) \| Respond to of 306849

Another idea: How about the Fannie Mae checkbook? This is where your house is like a checking account, and FNM gives you a box of checks. You just write checks agains your home equity. Or if you don't have any home equity, you write the check and FNM tacks it on to the end of the loan with interest? You can use the checks to buy school supplies, a down payment on a new car, a new stereo, a weekend in Boca Raton, whatever.... P.S. Another new idea, how about the Fannie Mae debit/credit card? (Debit card for those with home equity, Credit card for those with no home equity). They can make an agreement with Visa or Discover and you can use your home equity like a debit account. It can be used anywhere major credit cards are accepted. They can even rig it so you can plug this card into a slot machine at a casino!