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Trying to buy boat

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Old 02-07-2010, 02:10 PM
  #21
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Join Date: Oct 2008
Location: Bird Nest
My Boats: My boat is Smaller and slower than yours
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Quote:
Originally Posted by wjb21ndtown View Post
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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