The Home Equity Planning concept can seem daunting at first glance, but the idea is simple. It is based on a few facts that most people are unaware of...

Equity is not liquid.

Let’s create a hypothetical situation where a person has $200,000 of equity built up in their house. Everything is fine until this person gets in an automobile accident and can’t work for at least 6 months. The disability checks are not enough to cover the mortgage and the car payment, not to mention put food on the table.

The first thing this person might try to do is take out a home equity line of credit. Without a job, however, the chances getting that credit from the bank are next to nothing. Now the only option is to sell the house. This is not a good predicament to be in.

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