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2 Times You Should Never Tap Your Home Equity

July 13, 2017

IT’S BIG. IT’S EXPENSIVE. And it’s many people’s largest asset. While your home may be the place where you lay your head and dream at night, it can also play a huge financial role in your life.

Your home’s value shouldn’t be overlooked as you build your financial strategies for the future—and the equity you hold in it is one resource you can draw upon to help you cover certain current expenses.

 

But, there are some expenses that you should never use home equity for, says Marie Imundo, senior vice president of Mortgage Product Strategy, Global Wealth & Investment Management. After all, why put at risk that place where you raise your family and dream at night? Here, Imundo, gives her thumbs up—and down—on seven uses you might be considering.

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