Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: saveslivesbyday who wrote (87010)	8/24/2007 9:24:50 PM
From: Travis_Bickle	Read Replies (1) \| Respond to of 306849

I cashed out all the equity in my home with a second mortgage. Spent ninety percent of it on women and booze ... the rest I wasted.

To: saveslivesbyday who wrote (87010)	8/28/2007 4:28:49 PM
From: GraceZ	Read Replies (2) \| Respond to 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.