Do you have a Home Equity Line of Credit (HELOC) coming due? If your HELOC is getting close to its 10th year, and you still have a balance owed, you most likely will be seeing a large spike in the monthly payment once your enter the repayment term of your HELOC. Being proactive and preparing for the change that will occur is highly recommended and most banks are notifying their clients 6-12 months in advance, giving them plenty of time to plan. And most consumers do not want the larger payments that are going to start to be required. Homeowners need to know that they have options:
There are pros and cons to each strategy and you need to explore the best options for you and your personal financial situation. Home values have appreciated in value. This is a great time to explore your options.
We do have a solutions: Learn more by contacting Karen Jones.
Karen Jones, a Licensed Mortgage Loan Officer (NMLS 307015), is located in Phoenix and has been serving Arizona with their home lending needs for over 40 years. As a Certified Mortgage Advisor, Karen is dedicated in ensuring that her clients are well educated and prepared for their new home loan decision. AmeriFirst Financial, Inc. Grayhawk Office located in Scottsdale, Arizona.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Karen Jones does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Karen Jones will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.