In this episode we continue our 3-part series answering client questions with our second inquiry. Today’s question is, " How do I access the equity in my home and use it to meet some of my pressing goals without damaging my personal finances or putting my home at risk”?
Your home is an investment, and the equity in it can serve as a powerful financial tool if leveraged properly. It is important to approach home equity strategies with caution, prayer, and a clear understanding of the potential impact on your financial well-being.
Reasons to access equity may involve consolidating high-interest debt, making vital home improvements, or investing in other appreciable assets. Prudent use of home equity, combined with proper financial planning, can significantly enhance your financial stability and your access to meet your pressing goals.
Episodes Highlights:
02:21 - Understanding Home Equity
07:38 - Home Equity Loan vs. HELOC
14:26 - Considerations for Using Home Equity
17:49 - Win-Win Strategy: Cash Out Refinancing
18:41 - Refinancing for a Lower Interest Rate
20:18 - The Benefits of Refinancing
Subscribe and share this podcast episode with your family and friends so they can utilize these factors as they establish a credit score that accurately represents their credit reputation.
Connect with Weslia Echols, AFC® and Willa Williams, AFC®
Facebook and Instagram: @wealthwisdomtogether
Trinity Financial Coaching: https://www.mytfcoach.com/
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.