Oct 28, 2021
6:09:31pm
6:09:31pm
No, not at all
Just responding to the question about drawing income out of a home.
No doubt there are millions of people living off or supplementing income from a HELOC, reverse mortgage or whatever form of program or loan. And that certainly works for a lot of people. But I'm really not personally in favor of it. You're not going to get much out of a HELOC and the interest rates are not that great. I don't have a HELOC. Plenty of better ways to draw income from a home.
You have to realize that millions of people have all sorts of assets they can either earn income from or borrow against or whatever to live off or supplement their income. The list and methods is endless.
No doubt there are millions of people living off or supplementing income from a HELOC, reverse mortgage or whatever form of program or loan. And that certainly works for a lot of people. But I'm really not personally in favor of it. You're not going to get much out of a HELOC and the interest rates are not that great. I don't have a HELOC. Plenty of better ways to draw income from a home.
You have to realize that millions of people have all sorts of assets they can either earn income from or borrow against or whatever to live off or supplement their income. The list and methods is endless.
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10/28/21 10:46am
10/28/21 10:50am
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:58am
This is incorrect man. They can wait until they pass away, get a step in basis on their assets, and have all that growth
10/28/21 11:11am
10/28/21 11:56am
10/28/21 10:46am
They can let the debt run up forever and then have it paid for with assets that have stepped up in basis at their death.
10/28/21 10:39am
10/28/21 1:05pm
10/28/21 10:53am
10/28/21 10:55am
10/28/21 10:57am