HELOC Debit Cards: Too Convenient?
This is a guest post from Miranda Marquit, who writes on personal finances and debt consolidation. Her website is mirandamarquit.com.
There is some debate about the reasons behind the current economic slowdown (I’m not saying recession — yet). One of the reasons given is the easiness with which credit has been obtained over the last 15 years or so. Indeed, it has become increasingly easy to get access to borrowed money. And, even with the credit market crisis showing us that some measure of inconvenience is needed, access to home equity is becoming more convenient.
We can use plastic for just about anything now, and that includes the home equity line of credit (HELOC). One of the relatively new introductions into the financial system is the HELOC debit card. Instead of taking money from your home equity line at the bank, all you have to do is swipe a debit card, and […]
Original post by MoneyNing