Is a HELOC Riskier Than a Mortgage If Your Income Drops?

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In this video, Michael Lush explores the potential risks and advantages of using a Home Equity Line of Credit (HELOC) compared to a traditional mortgage if your income decreases. He addresses the common concern that a HELOC might be riskier in such scenarios, emphasizing the importance of critical thinking. Lush explains that while a decrease in income is never ideal for any financial situation, HELOCs offer greater flexibility than mortgages. This flexibility can give homeowners more options to manage their finances effectively during tough times. Through a detailed comparison, Lush highlights how HELOCs can be a more adaptable tool for maintaining financial stability even when facing income fluctuations.