Started by dgab85, June 18, 2020, 01:24:33 pm
Quote from: TheCollegeInvestor on June 18, 2020, 05:14:29 pmNot really a fan of doing it. You're shifting the risk from yourself (which, yes, sucks, but there are a lot of programs and options), to your home (with no options except to lose your home).You didn't say what type of loans you have - which definitely shifts the decision. Federal loans is likely a hard no. You give up income-driven repayment, loan forgiveness plans, and hardship options - like right now during Covid-19 Federal loans are paused with 0% interest. That's amazing.Also, what if (in the unlikely situation) they do pass loan forgiveness - even partial. They aren't going to offer that on your HELOC. Only for Federal loans.Private loans are a maybe, but you have to ask yourself if the risk is worth it.