The ULTIMATE HELOC vs. Cash-Out Refinance Guide - How to Decide
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- Опубліковано 26 сер 2024
- In this video, I compare using a HELOC with a cash-out refinance in order to give you the ultimate HELOC vs. Cash-Out Refinance Guide! I go over what a HELOC and a Cash-Out Refinance are, what the pros and cons are of each, as well as how to decide which one is best for YOU if you are looking to access your home equity.
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Hey Jay , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
thanks
Why are you comparing mortgages to 2nd lien HELOCs instead of 1st lien HELOCs? The risks on 1st liens are less risky than that of a 30 year mortgage, which was proven in the housing crisis in 2008.
Because most people still have a mortgage. For those people who want to access equity, cash out refi and 2nd lien HELOC are their 2 main options. I disagree that 1st lien HELOC is less risky that a mortgage, that depends on other factors. Can you explain?
@JayCosta you're honestly under the impression that those are the only 2 options for people currently with a mortgage? The purpose of a 1st lien heloc is to REPLACE your mortgage. I feel like there's ALOT of opportunity for you to become more educated on 1st lien HELOCs because you seem to only have half the picture.
And there's NOTHING, other than group think and fear mongering, that shows a 1st lien heloc is more risky than a mortgage. The housing crisis of 2008 more than proves this. The data is there, we just have to stop regurgitating tropes that are not accurate. Also on the bank's side, being in 1st lien position is alot less risky for them so there's less of a reason to do things like freeze the line or call it due.
@@JCOX1982there’s no need to be rude in this channel to prove a point. Everyone has different points of view
Good Educational Content 🫡
Thanks, glad you enjoyed it!