Why You Should Think Twice Before Getting a HELOC || Hack Your Finances

Discuses about why it’s a bad idea to take out a Home Equity Line of Credit in the last crash. In the current episode of Dollar is Dead, the reasons why you should have second thoughts about a Home Equity Line of Credit given the current inflation of rates, unemployment, and reduced GDP.

Timestamps
0:01 - Introduction and Welcome
0:33 - Viewer Engagement
0:58 - Overview: Your Personal Financial Health Does Not Matter to the Government and the Banks 1:30 - Double-Edged Sword: Financial Tools and Financial Instruments
1:59 - Example: Credit Cards Done Right and Wrong
2:27 - Introduction to HELOC's (Home Equity Lines of Credit)
3:02 - Secured and Collateralized Loans 3:32 - Why HELOC's in a Weak Economy
4:10 - Economic Prop right now and Future Strategy
5:10 - Home Affordability and Equity Trends at the Moment
6:13 - The Problem with HELOC's
6:44 - Responsible Use of HELOC's: Debt Consolidation and Lower Rates
7:14 - Irres Since Financial Instruments Are Like a Double-Edged Sword, Be Sure to Move with Caution
8:14 - READ NEXT : LOOK OUT FOR EMERGENCY FUNDS

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