5
A banker in Phoenix made me question my whole stance on HELOC penalties
I was always against prepayment penalties on HELOCs, figured they were just a trap for the borrower. But last week a loan officer named Dave over at a local credit union here in Phoenix broke it down for me. He said those penalties are the only thing keeping rates low for everyone else, and after he showed me the math on a $120,000 line, I started to see his point. Has anyone else been swayed by a lender's reasoning when you thought they were just out to get you?
0 comments
Log in to join the discussion
Log In0 Comments
No comments yet
Be the first to share your thoughts on this discussion.