Hey all!
My family and I are about to downsize in the house department. We've paid off our $146,000 home (with the exception of a $15,000 interest-free first time home buyers loan) and are looking at buying a home in the sub $100,000 range. We're looking at ways to finance the new place while we seek to sell the current place. I'm considering taking out a home equity line of credit to pull this off, but I'm not really familiar with these instruments. Anyone have some helpful perspective on this? I'm really looking to avoid as much of the various closing costs, etc. as I can.
Thanks in advance!