HELOC
I owe 110,000 on our personal residents that was just appraised at 260,000. Now I'm new so this might be a silly question but here it is. If I took out a heloc on 80 percent of the 150,000 now and the housing market dropped out again would I still have the 120,000 heloc even though the house wouldn't be worth that? Here's my thinking. I take out that line of credit but don't use it. If prices drop again I could buy an investment for a good low price.