Trying to buy boat

Old 02-07-2010, 01:10 PM
Join Date: Oct 2008
Location: Bird Nest
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Originally Posted by wjb21ndtown
If his house is paid for he should probably take a home equity loan for the car and deduct the interest...

Never use you house for collateral when buying toys such has a home equity loan. And a smart man will never use what he has already paid for as collateral. If the toy you are buying cant be used for collateral after a down payment walk away.

This economy is unpredictable now and risk of living in a tent by a bad decision can happen.
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