Comments on: HELOCs as an Asset Protection Device http://livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/ Join me on my journey to achieve financial independence through dividends, passive income and investments Thu, 11 Mar 2010 17:23:08 -0800 http://wordpress.org/?v=2.8.1 hourly 1 By: Plus6 http://livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/comment-page-1/#comment-618 Plus6 Tue, 08 May 2007 18:27:00 +0000 http://www.livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/#comment-618 That's creative...if I ever live in a non-Homestead protected state I will give it some thought. I have a home equity loan out on my house with very little on it as a second safety net behind an emergency savings account. That’s creative…if I ever live in a non-Homestead protected state I will give it some thought. I have a home equity loan out on my house with very little on it as a second safety net behind an emergency savings account.

]]> By: Empty Spaces Inc. http://livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/comment-page-1/#comment-54 Empty Spaces Inc. Fri, 17 Feb 2006 18:26:00 +0000 http://www.livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/#comment-54 Florida and maybe Texas have unlimited Homestead protection. California only has 150k. <br/>As far as I know most states do NOT have unlimited protection. besides, you can put a heloc on it and not withdraw any cash out of it. the idea is to appear fully leveraged. if you have 500k in equity in your home, a lawyer doing an asset search on you probably knows you're wealthy. Florida and maybe Texas have unlimited Homestead protection. California only has 150k.
As far as I know most states do NOT have unlimited protection. besides, you can put a heloc on it and not withdraw any cash out of it. the idea is to appear fully leveraged. if you have 500k in equity in your home, a lawyer doing an asset search on you probably knows you’re wealthy.

]]> By: Jose Anes http://livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/comment-page-1/#comment-53 Jose Anes Fri, 17 Feb 2006 14:42:00 +0000 http://www.livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/#comment-53 In most states there are Homestead protection acts that protect your primary residence up to a limit (ussually $500,000 of equity).<br/><br/>In those cases HELOC are not such a good idea for assett protection.<br/><br/>Also, if you get money out of a HELOC and invest elsewhere, money outside of the primary residence IS NOT PROTECTED by Homestead Protection Acts.<br/><br/><a HREF="http://www.MoneyAndInvesting.net" REL="nofollow">money And Investing</a> In most states there are Homestead protection acts that protect your primary residence up to a limit (ussually $500,000 of equity).

In those cases HELOC are not such a good idea for assett protection.

Also, if you get money out of a HELOC and invest elsewhere, money outside of the primary residence IS NOT PROTECTED by Homestead Protection Acts.

money And Investing

]]> By: SLOMONEY http://livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/comment-page-1/#comment-37 SLOMONEY Thu, 15 Dec 2005 22:27:00 +0000 http://www.livingoffdividends.com/2005/12/14/helocs-as-an-asset-protection-device/#comment-37 Creative way to look at it Creative way to look at it

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