Taking advantage of convertible home equity lines of credit

Home equity lines of credit (HELOCs) have lately been maligned with unsustainable mortgage equity withdrawal (MEW) financing such essentials as two-week long vacations, German-imported vehicles, requisite granite counter tops and travertine flooring; however, HELOCs are a useful and important financial vehicle available to home owners. Their importance escalates in times of tightening credit and stable/declining home values. In this three part series we examine some of the important features that home equity lines of credit offer to homeowners as part of a strategic home financing plan. We'll examine the following three features in this series: Convertible HELOCs True no-cost HELOCs Equity protection & repositioning Today, we'll look at the important role that convertible home eq