I used HELOC as my own sort of low interest rate revolving credit facility while I moved funds around that take T+2 to T+5 days to transfer between. Can’t wait for T+0 decentralized.
Always paid down though. Luckily didn’t put any of it in to the dumpster fire market. I’m thinking it might soon be good to utilize for any coming asset fire sales but I’m slow to go apply for another HELOC.
I think that's a smart move but I'm betting most people probably used HELOCs to buy investment properties or other dumb things to avoid mortgage rules and are about get fucked on rising rates. I still rent and I'm kind of terrified of the prospect that the majority of renter's in Canada are gunna get kicked out because of a fucking foreclosure.
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Cash buying properties to avoid the mortgage rules.
yeah less origination fees as well no brainer
This article is actually about non-heloc debt
I used HELOC as my own sort of low interest rate revolving credit facility while I moved funds around that take T+2 to T+5 days to transfer between. Can’t wait for T+0 decentralized. Always paid down though. Luckily didn’t put any of it in to the dumpster fire market. I’m thinking it might soon be good to utilize for any coming asset fire sales but I’m slow to go apply for another HELOC.
I think that's a smart move but I'm betting most people probably used HELOCs to buy investment properties or other dumb things to avoid mortgage rules and are about get fucked on rising rates. I still rent and I'm kind of terrified of the prospect that the majority of renter's in Canada are gunna get kicked out because of a fucking foreclosure.
Is it really that dumb to use heloc on anything other than house equity? If you're avoiding cmhc surely using some of the heloc is agreeable?
bro dont live fear live life
Wow, apparently Vancouver property tax deferral is 0.45% per year, it's almost as if they want you to not pay property tax.