The scary thing about HELOCs
Вставка
- Опубліковано 20 сер 2024
- HELOCs. Can they make you go broke? Are they bad? Well, they can be. What is a heloc? Home equity line of credit. That's the acronym. And basically, it's like a second mortgage.
If you are looking to refinance or purchase a home now or in the future, meet with the Oddo Group.
oddogroup.com/
**********************************
First Time Homebuyers Playlist
www.youtube.co....
**********************************
Real Estate Tips Playlist
www.youtube.co....
**********************************
Michelle Oddo
Branch Sales Manager
M (303) 961-6906
O (720) 738-1081
michelle.oddo@goluminate.com
CO License 100028804
NMLS 297239
As a prior partner of her own mortgage brokerage company, Michelle has over 25 years of mortgage lending experience as a loan originator as well as experience in loan processing and underwriting. She enjoys helping people choose the right loan to fit their specific needs, and prides herself on educating clients on all available options. Michelle’s expertise is working with self-employed, first time homebuyers and counseling challenging borrowers. Passionate about giving back to her community, Michelle is a member of Chamber of Northwest Douglas County, the Homes for Heroes and SMDRA. Her awards include:
o Top 1% Originator for 2014, 2015, 2016, 2017 & 2018
o 5280 Magazine’s Five Star Loan Officer (a multi-year winner)
o Chairman’s Club at NOVA® Home Loans for 2012, 2013, 2014, 2015, 2016, 2017 & 2018
o Awards (2017 & 2018):
Best Mortgage Lender: #1 in Highlands Ranch, #56 in CO
Best Mortgage Refinance Lenders: #3 in Highlands Ranch, #49 in CO
Best VA Mortgage Lenders: #1 in Highlands Ranch, #31 in CO
Best FHA Mortgage Lenders: #3 in Highlands Ranch, #32 in CO
Best Mortgage Lenders for Low Down Payment: #1 in Highlands Ranch, #43 in CO
Best Mortgage Lenders for First-Time Home Buyers: #2 in Highlands Ranch, #65 in CO
Best Mortgage Brokers: #1 in Highlands Ranch, #14 in CO
Best Mortgage Lenders for Low Credit: #1 in Highlands Ranch, #41 in CO
#HELOC #HomeEquityLineOfCredit #mortgageadvice
the scary thing about helocs,home equity line of credit,home equity loan,mortgage loans explained,heloc explained,heloc to pay off credit cards,real estate,real estate investing,home loan,line of credit,interest rate hike,mortgage,mortgages,what is a home equity line of credit,heloc,heloc strategy,home equity loan explained,how does a heloc work,michelle oddo,home ownership,colorado homes
What does a Heloc and a chalkboard have in common? A: You can draw on it.
Thank you for simplifying this! Know someone who's about to loose their home to the tune of $30K because of a HELOC. Devastating.
hopefully the rates will go down this year
Good info but the problem is you are speaking in loan officer terms. I understand because I have been in real estate but average home owner has no clue what you are saying.
There are fixed rate HELOCs as well. What are your thoughts on those.
They are garbage say your fix rate is 10% and in the near future, the prime rate goes above 10% the bank can freeze your current HELOC and ask you to repay it in full and will the give you an option to re apply for the higher prime rate