HELOC loans

[Blue Spot Octopus]

What is a HELOC loan and when are they beneficial?
Thanks in advance

 

[Johnd651]

Home equity line of credit

Using the value in your home to take money out against it

 

[Blue Spot Octopus]

Thanks , I was listening to a video of guy stating if you want to protect your assets put a HELOC on your house.
So once again I over thinking.

 

[Johnd651]

Thanks , I was listening to a video of guy stating if you want to protect your assets put a HELOC on your house.
So once again I over thinking.

I know there's value in holding notes, but I'm not sure how you would protect an asset by taking a loan against it. Like if you can't pay the payment, your house is the collateral.

 

[Blue Spot Octopus]

Thanks, I will hold off on taking out a HELOC.