Home Equity Lines of Credit can be a vesatile tool if used the right way. In this episode of Financial Cents, Margaret Paddock, Director of Private Banking, sits down with Greg Byrd, Area Manager and Head of Mortgage, to explain what a HELOC is. They break down how a Home Equity Line of Credit works and how homeowners can borrow against their equity.
Margaret and Greg also share the smartest ways to use a HELOC, including home renovations, debt consolidation, and creating a financial safety net. They explain why using a HELOC the wrong way can quickly put your home equity at risk.
