If you need money, you've now got at
least $50,000 more available for a home equity loan.
I'm not sure why you'd expect a lot of sympathy in this situation.
Melanie:
Perhaps you could explain something. Assume people own buildings that in fact are worth more on paper, and therefore qualify as security for loans beyond any mortgages they must already repay. How does that lead to your tacit conclusion that it makes sense for them to increase their indebtedness and corresponding monthly obligations for things they don't necessarily consider important?
Al Krigman
