Maintain a line of credit (that grows without cost) for health emergencies and surprises. (25 ways)

Participants in this comparison of HELOCs and HECM line of credit plans are being asked to compare two types of home equity loans. And just like the participants in a recent RMF-supported study conducted by the National Council on Aging, they ended up liking the reverse mortgage far better than the HELOC. (see this analysis and “HELOC CHALLENGE” below).

WSJ: Reverse Morgage Credit Lines Appealing to Younger Borrowers

“I wish I had known about this before I had taken out the home equity line of credit.”

25 plus ways to use a HECM; Use home equity bank to purchase solar panels; save up to 85%

But Wait, Doesn’t the Bank Own the House? “Well, that’s false” — known as fake news