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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Calculators: Credit Card, Mortgage and more:
➤ All Calculators : https://hackyourcreditcards.com/calcs
Brokerages (Stocks)
➤ Interactive Brokers : https://hackyourcreditcards.com/ibkr
➤ Fidelity : https://hackyourcreditcards.com/fidelity
Gold & Silver
➤ Vaulted : https://hackyourcreditcards.com/vaulted
IRAs for Crypto
➤ iTrustCapital : https://hackyourcreditcards.com/itrustcapital
➤ Bitcoin IRA : https://hackyourcreditcards.com/bitcoinira
➤ BitIRA : https://hackyourcreditcards.com/bitira
Crypto Purchasing
➤ Coinbase : https://hackyourcreditcards.com/coinbase
➤ Crypto.com : https://hackyourcreditcards.com/crcom
➤ BitUnix (has most coins) : https://hackyourcreditcards.com/bitunix
Stock & Crypto Charting
➤ Trading View : https://hackyourcreditcards.com/tradingview
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DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. Always do your own research. This video content is intended only for informational, educational, and entertainment purposes. Brian Longest is not a registered financial advisor. Your use of his YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTub and E-Mail) for communications with Brian does not establish a formal business relationship.
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