It Investments
February 5th, 2006
Question: Why pull out the equity in your house, if do dont think your investments will yeild more thn the interest ?
People are allways reccomending to pull out the equity in your house and use that money to invest, But what is the interest for the Equity line of credit and what if your investments dont yeild more than that cost. I just dont get it ?
Answer: You are right. There are a lot of investment and refinance companies out there telling you how to reinvest the equity from your home. The problem is, as you pointed out, the gains from those other investments need to guaranteed more than your mortgage payment or you had better be financially able to cover the additional expenses if the investment does not produce the needed income. Why do they preach such things, because they stand to make gains if they can persuade you. I am now retired and have paid my first home off. Good thing, because companies now a days do not appreciate the long term experienced dedicated technical worker.
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