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May 20, 2022
2:14:19pm
byukarl All-American
Equity is worthless unless you have access to it
By an equity line or you have taken it out already in cash. In 2008, lot of my friends had equity and I witnessed equity lines of 150-200k shut down overnight due to the housing market crashing. Banks get spooked your equity will mean nothing because it's nothing until you get an appraisal and refinance cash from your home or you sell it and get a big check. Equity rich is such a myth.
byukarl
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byukarl
Joined
Apr 15, 2003
Last login
Apr 25, 2024
Total posts
27,965 (687 FO)