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mary_md7

Bank pushing HELOC

mary_md7
14 years ago

For all the talk of "no credit" (which is as much hype as substance, I suspect), my bank tries to push a HELOC on me regularly.

Last time, they were giving me the "too much in savings" pitch and wanted me to put the money in a CD instead. I pointed out we had saved that money as a liquid rainy day fund. "Oh, don't use your savings, we can get you a HELOC...."

I realize my LTV ratio is low and my FICO is high, but you'd think they'd discourage using the house as an ATM on a rainy day.

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