Should You Use A HELOC For Emergency Repairs?
Home equity lines of credit, or HELOCs, are really handy credit funds that you can use for large repairs and other major expenses that can't wait but that are also too big for your savings to handle. However, they can also be a source of trouble if you don't handle them carefully. They're very much like a credit card with an amazingly large balance, so when is it a good time to open one up to have in case of emergency?