It didn’t take long for the hosts to figure out what was really going on. Despite taking out a large loan, Josh and his wife were still spending and saving as if they were debt-free, making the bare minimum payments on the HELOC and growing frustrated with the lack of progress.Cruze doubled down on this line of questioning and asked Josh how much extra he could afford to pay per month in order to pay off this debt a little quicker. When Josh replied with “$500 a month,” the hosts had one simple question: “W ...

Are you a homeowner and looking to tap into your home’s equity? You might want to consider a HELOC (home equity line of credit) to fund your goals. What’s nice about a HELOC is that it’s a secured loan backed by your home, so you’ll get a lower rate than with other types of loans. Yet today’s real estate and interest markets are unique, and depending on your circumstances, a HELOC might not be the way to go right now. It all depends on your financial situation. Learn more: The best HELOC lenders right no ...