Buyers Beware of Taking out Home Equity Lines of Credit

Due to the current market, I discourage buyers from taking out home equity lines of credit. Who knows when the market will snap back? It also depends on how the market is in your area. Currently in East Texas, the market is not as bad as the news portrays it to be. We are still selling homes. However, some homes are taking longer to sell and buyers aren't getting the price that they would have a year ago. That's why I discourage gambling with your equity in your homes.