tag:blogger.com,1999:blog-30995226.post115353427830294675..comments2023-09-10T02:02:41.395-07:00Comments on Seeking Contentment: I'm afraid of HELOCssf momhttp://www.blogger.com/profile/06740296471060429591noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-30995226.post-1155011104032532642006-08-07T21:25:00.000-07:002006-08-07T21:25:00.000-07:00Ms/Mr. Anonymous,I read up on real estate in San F...Ms/Mr. Anonymous,<BR/>I read up on real estate in San Francisco almost daily. I feel confident that we are in a good position here in SF. While we may not make $300K if we sold our house today, as long as we don't sell below what we paid for it, we'll be ok. <BR/><BR/>Locking in on the 30-year fixed loan took a huge weight off of my shoulders. I don't ever want to tap into the equity on this sf momhttps://www.blogger.com/profile/06740296471060429591noreply@blogger.comtag:blogger.com,1999:blog-30995226.post-1154889824147060472006-08-06T11:43:00.000-07:002006-08-06T11:43:00.000-07:00I personally think housing prices are set to fall....I personally think housing prices are set to fall. Have you seen the reports lately? If you took out that Heloc, and the value of your home dropped (they have dropped in California before, TRUST ME), then if your mortgage company reappraises your house and the lon to appraisal ratio is higher than 80% then they could hit you for PMI again.<BR/><BR/>Locking it in at a fixed was the smart thing to Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-30995226.post-1153794612655157042006-07-24T19:30:00.000-07:002006-07-24T19:30:00.000-07:00I can understand your concern. Once the equity is...I can understand your concern. Once the equity is established, you want to preserve it at all costs. Despite the personal experience that led you to that decision, using your credit cards worked for you. There's more than one way to skin a cat and now you have a beautiful remodeled home. ;-)<BR/><BR/>@ lisa - I also have a 2nd loan to avoid PMI, but it's a home equity loan (different from a Single Mahttps://www.blogger.com/profile/02304629601616898196noreply@blogger.comtag:blogger.com,1999:blog-30995226.post-1153578662314763452006-07-22T07:31:00.000-07:002006-07-22T07:31:00.000-07:00I am completely HELOC gunshy as well. We took out...I am completely HELOC gunshy as well. We took out our HELOC for similar reasons as you. We only put 10% down and used the HELOC for the other 10% to get us out of PMI land.<BR/><BR/>How we have a lovely adjustable rate HELOC that is creeping toward 9%. Ewww. Besides that I have no intentions of ever using the HELOC to actually buy anything (after this thing gets paid off, I am going to be Anonymousnoreply@blogger.com