A Home Equity Line of Credit (HELOC) should not be used as a substitute for an emergency fund because the emergency time frame may exceed the draw period or payback period of the HELOC.

Authors

• Person: Not available Organization: Northwest Bank
  How To Build Your Emergency Fund and Use It Wisely

Sources

• How To Build Your Emergency Fund and Use It Wisely www.northwest.bank Northwest Bank via serper

Referenced by nodes (2)

• home equity line of credit concept
• emergency fund concept