Submitted by jws1300 t3_10oathi in personalfinance
ShankThatSnitch t1_j6fayws wrote
Reply to comment by yes_its_him in Pay down on house or keep in savings? by jws1300
I know it is similar to a personal loan. The difference is that you have the home equity as collateral, so the odds of approval are higher, and the rate should be better.
But I agree that a home is not a liquid asset, but the equity can be tapped somewhat easily with a HELOC. That was the only point. And I don't think this is a replacement for an emergency fund.
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