re: Secured LOCs: What is the point?

quote:

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Need to read the above posts. There are a couple good examples.

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80% of them don't seem to really apply. They seem to be referring to some kind of unsecured LOC or a HELOC.

You don't take out a 5000 dollar loan on 5000 dollars cash because of the "cheap money."


Basically what I got is that it is a credit builder/tool for those without discipline to force them not to deplete their savings but otherwise there isn't any value. It seems that is all it this.

Thanks.