Ep40 “Robbing Peter to Pay Paul”

We’ve all heard the famous phrase that one must occasionally “rob Peter to pay Paul.” Well…today we take that phrase one step further because we’re going to “rob” ourselves to “pay” ourselves. How do we do that one might ask? Well, today, we welcome to the podcast Mr. Nick Beresh of WesBanco Bank to discuss home equity loans and home equity lines of credit as well as the important part they can play in the life of a homeowner. Now here's the man that single handily robbed Peter AND Paul...your host... Jason Wilcox! TALKING POINTS (3-5): • Introduce yourself • Discern that a home equity loan is different from a home equity line of credit. • What is a home equity loan? • How does that differ from a home equity line of credit? • When is it the most applicable to apply for a home equity loan? o Take time to discuss how this can potentially be a great tool for buyers to use when they want to but their upgraded home BEFORE selling their current home.  Discuss the max. LTV for home equity loans and why that is important if you’re looking to buy then sell. • When is it appropriate to apply for a home equity line of credit? • Caution listeners that these are lien-able loans and must be factored into the equation when selling a home as they need to be paid off in order to close on the home. • Funny story • Final thoughts LINKS: NICK: https://www.wesbanco.com/ JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: NICK: Cell Phone: 724-493-6058 Email: [email protected] JASON: Cell Phone: 412-651-4638 Email: [email protected]