Why Every McHenry Homeowner Should Have A Home Equity Line Of Credit!

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    Why Every McHenry Homeowner Should Have A Home Equity Line Of Credit!
By : Michael R. Linton   zero times read
Submitted 2007-06-05 13:14:58
Why Every McHenry Homeowner Should Have A Home Equity Line Of Credit! Even If They Don't Think They Need One
There are several reasons every McHenry, Illinois home owner should have a home equity line of credit. The first and most important reason is it's better to have one while you qualify for one; Versus trying to get an equity loan when you really need it.
Every homeowner in McHenry knows that it is easy to get money when you don't need it. The banks are more than happy to give it to you. But as soon as you hit a rough spot in your life or things start to get a little shaky, It's like trying to pull teeth to get the cash you need.
A Home Equity Loan Is Cheap Insurance For McHenry Homeowners
What will you do when you or spouse gets fired or laid off.? What if either one of you were to get injured? What if either one of you suddenly have health problems? It is extremely difficult to get a home loan when you can't prove some ones employment. I'm not saying it is impossible. It is just very difficult. Plus the interest rates are typically much higher than you would normally qualify for.
Just think of a home equity line of credit as a very cheap insurance policy. For most people with good credit they should be able to get a line of credit for free. Because the home equity line of credit is a true line of credit. There are no payments on it unless and until the equity credit line is used.
A Home Equity Credit Line Is Great For Unexpected Bills
A trip to the hospital is expensive, especially if you don't have any insurance. What about your transmission exploding in your car? Any of these things could happen at anytime. Wouldn't it be nice to know that you have a financial cushion there in case something does happen. Our affiliated company, Maranatha Mortgage can set a line of credit up for you in a matter of days.
Missed Opportunities
What if you ever came upon a great deal on another piece of property? What if you have the opportunity to invest in something that can't miss? What if you were to find a great deal on a car, boat, or truck? Any of these could be missed opportunities if you don't have instant access to large amounts of cash; Which is exactly what a home equity line of credit provides.
A home equity line of credit is a wonderful thing to have. It can protect you in unforseen major changes in your life. It can help pick up the cost of sudden expenses. Whether you are looking to remodel, buy new furniture or consolidate your bills, you will quickly see that a low rate Home Equity Line of Credit is an easy way to do the things you want!

Please call me or you can apply online by clicking on the link on the right.


Michael R. Linton
Mortgage 1st Realty

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Author Resource:- Mr. Linton is an entrepreneur with over 21 years experience in real estate investment, commercial real estate brokerage, residential brokerage, construction and mortgage banking and lending. He has been a member of the National Association of Realtors since 1986, a member of the Illinois Association of Realtors, a past member of the Florida Association of Realtors, a member of the Fox Valley Association of Realtors and a member of the Orlando Regional Realtor Association. He has also been a member of the McHenry County Board of Realtors and the Daytona Beach Area Association of Realtors.

Mr. Linton supports the Volusia County Coalition for The Homeless, and is a member of the Alliance Bible Church serving on the Church Relocation Committee.

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Comments (1)

Gil Kerbashian Real Estate Loans
Gil Kerbashian Real Estate Loans - Crystal Lake, IL
Hi Mike, Give Randy a hello from Gil.
Nov 09, 2007 03:24 AM