Home equity line of credit
My wife and I have a new home I may want to put another room in the basement is this a good thing for us to get a home equity line of credit to complete that project.
Terry Says: Please read my new column on the subject. These loans are typically interest-0nly, thus offering attractive low payments — AND the risk that rates could move higher and that you will owe a big balloon payment ten years down the road. Can you afford that?