What To Do With Equity Money In The Mean Time
Hi all, Great forums, been reading them for the past couple of weeks and have found lots of good information.
Anyway... I'm cashing out some of the equity in my current home and will be purchasing some income property, however it may be a month or a year, before I can find something worthwhile. So, where do I keep the money till then? (80k)
Money market account? If so which one?
Thanks,
Steve[ Edited by hihosteverino on Date 11/12/2003 ]
It would be better to open up an equity line of credit as opposed to "pulling out the money."
With an equity line, you're only charged interest when you actually use the money. Think of it as a credit card against your house.
Roger