Author Topic: What to do with Home Equity  (Read 516 times)

JD1967

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What to do with Home Equity
« on: June 28, 2020, 03:59:10 PM »
Hello everyone ... looking for some ideas from the group ... thank you in advance for any comments ...

I own my home ... no work on the house wanted or needed (thank God) ... last appraisal 1 yr ago was 200k ... properties in our area don't appreciate very quickly but they generally don't drop in value much either ...

It seems to me that having that amount of money tied up in something that doesn't grow isn't the best use of capital ... but maybe I'm just thinking too hard ...

I don't have anything in particular that I would do with the money (buying a business etc) but that's probably because I'm not smart enough to consider all the options available ... which leads to this post ...

so ... I could probably pull 150k out of the house ... any ideas on what to do with 150k? 

again, thanks in advance ... and I apologize for any stupidity on my part upfront ... thanks again

Saving in Austin

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Re: What to do with Home Equity
« Reply #1 on: June 28, 2020, 09:17:36 PM »
I wouldn't take a 2nd mortgage and invest in the stock market.

Some people on here might but I sleep easier knowing my mortgage is paid and my bills are lower.

v8rx7guy

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Re: What to do with Home Equity
« Reply #2 on: June 28, 2020, 09:23:59 PM »
And I thought I used a lot of ellipses...

ender

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Re: What to do with Home Equity
« Reply #3 on: June 29, 2020, 06:50:58 AM »
What are your other assets?

Fishindude

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Re: What to do with Home Equity
« Reply #4 on: June 29, 2020, 07:09:44 AM »
Pulling equity just means going back into debt.   It would be pretty foolish to put a "for sure deal" paid off roof over your head at risk by reinvesting the equity in a "maybe it will work" investment such as stocks.
Use what formerly went to mortgage payments to make investments and take comfort in having a paid off home.