Being a homeowner has its pros and cons. I've been both the homeowner and a renter and I can tell you from personal experience it can definitely hurt or help your finances

depending on your location, mortgage debt, property taxes, insurability, and overall financial goals.

I think the joys include having a place to call your own and the chance to build equity.

According to a 2024 report, the average homeowner has just under $300,000 in home equity,

with $193,000 available to be tapped.

That's the highest amount on record. So if you're a homeowner... to be

Tapped. So if you're a homeowner who's been watching your equity grow,

you might be wondering if you should dip into it with a home equity line of credit or Heilock. This podcast will review what a Heilock is, who

qualifies for one, how you can spend it, and the pros and cons to consider. Plus, I answer a question from Jason about my opinion of velocity banking

and how it relates to getting a he-lock.

Welcome back everyone.

Thanks for joining me on episode 872.

I'm Laura Adams, an award-winning author, finance spokesperson, money speaker, founder

of the Money Stack, which is a sub-stack newsletter and host of The Money Girl Podcast,

Podcast with over 43 million downloads.

If you're getting value from the free content

that we love creating, please subscribe and I'd love for you to consider submitting a

five-star rating or review on your podcast app. If you've got a question about

money for the show that you'd like me to cover.

You can leave it on our voicemail.

That number is 302-36403408.

You can also send me an email

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