Use Your Home Equity Wisely

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2 weeks ago

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Thank you for your service, Congratulations and God Bless

Congratulations, Stay Safe

God Bless all First Responders and Military personnel.

Congratulations and stay safe

Congratulations!! Stay safe!

Congratulations!! Stay safe!The Williamsburg Police Department would like to introduce the three newest members of our police department along with the new Williamsburg Chief of police, Chief M. Timmers! Congratulations and welcome to the team! (From Left to Right - Officer Reynolds, Officer Dearing, and Officer Hamiel) ... See MoreSee Less

2 weeks ago
Congratulations!! Stay safe!

Congratulations!! Stay safe!Welcome to SPD, Class 853!

If you like helping people, and would like to be a part of the fabulous work we do, here's information on how to apply to become a Seattle Police Officer: fal.cn/3wC2A
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2 weeks ago

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Congratulations and stay safe

Thank you NO!

Congratulations lord PLZ keep them safe as they do their jobs ๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ™

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2 weeks ago

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Congratulations!! Praying ๐Ÿ™ for your safety and security

Congratulations to all of you on supporting your community. It is a very demanding and important career. Stay safe and make sure to express your love for your family as they wait for you to return home safely. I will keep you in my prayers.

Congratulations, Thank you for your service and God Bless

Congratulations. God Bless you and your family's

Congratulations and stay safe

Congratulations!! Stay Safe out there.

Congratulations besafe out there

Congratulations but be aware, wolves. Police walking out quitting for a reason.. Stay close to God, lawlessness.

Congratulations ๐ŸŽ‰ and Blessings ๐Ÿ™

๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰๐ŸŽ‰

Congratulations may yall b safe as you do ur jobs ๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ‘

THANKS HEROES

Good bless each and every law enforcement officer

GOOD LUCK. HOPE YOU MAKE IT TO RETIREMENT !!!!

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#Heroes

#heroesWhen three LAPD K9 officers were shot last week, LA County Sheriffโ€™s Department did not hesitate to offer their services, by providing their own K-9 unit to help with LAPD K9 callouts.

Two agencies. One county. One goal. Protecting and serving the community.

Thank you Los Angeles County Sheriff's Department.
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2 weeks ago

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Go Blue!! Thank you for all you do!!!

Deepest Sympathy to LAPD K9 Officers ๐Ÿ’™๐Ÿ’™๐Ÿ’™ with eternal thanks to LA County Sheriff Dept โฃ๏ธ praise and prayers to all of our Law Enforcement Warriors ๐Ÿ™๐Ÿป

This should not be happening and the criminals getting away with it .Pray for our police,Pity these politicians dont show as much respect for these officers as they did george floyd Back The Blue

Sorta hoping for some perps... Eliminated ๐Ÿ’ฅ๐Ÿ’ฅ๐Ÿ’ฅ

Ty

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2 weeks ago
๐Ÿ’™๐ŸพImage attachmentImage attachment+1Image attachment

๐Ÿ’™๐Ÿพ ... See MoreSee Less

2 weeks ago
Rest in Peace. Thank you for seven years of service, K-9 Indi!

Rest in Peace. Thank you for seven years of service, K-9 Indi!The DeKalb County Police Department is mourning the loss of one of our canines. Retired K-9 Indi served for 7 years, 2013-2020. He served his entire career with his handler, Sgt. N.R. Larsen. During their time together, they gave outstanding service to the police department, the citizens of DeKalb County, and the Metro Atlanta area. #WeAreDKPD ... See MoreSee Less

2 weeks ago

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Rest In Peace and thank you for your service ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿš“๐Ÿš“๐Ÿš“

Rip big beautiful boy. Thanks for your service. Go run free. โค๏ธ๐Ÿ™

So sorry for your loss. RIP

Rest in Peace.Thanks for your service.

Thank you K9 Indi for your service. Fly with the angels sweet pup. Back the Blue ๐Ÿ’™

Sorry to hear. Thank you for your service. RIP. prayers to handler and family

Prayers always ๐Ÿ™ โค

K9 Indi ๐Ÿ’™ RIP and thank you for your service ๐Ÿ™๐Ÿป prayers for your loved ones left behind

So sorry for your loss. Thank K9 Indi for his service to his community. Condolences to the family and friends

Our condolences ๐Ÿพ๐Ÿ’

God bless him

Rest in Peace buddy

God bless

Rest In Peace

Rest in Peace K-9 Indi ๐Ÿพ๐Ÿพ๐Ÿพ๐Ÿ‘ฎ‍โ™‚๏ธ๐Ÿ’™๐Ÿ–ค

So very sorry! RIP HERO!

Rip K9 Indi

Awwwhh, RIP.

INDI, A HERO THAT WAS LOVED๐Ÿ’™

RIP

RIP

Rip

RIP ๐Ÿ–ค๐Ÿ’™

You are beautiful so sorry for his loss

Prayers for him!๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ™๐ŸŒน

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๐‡๐š๐ฉ๐ฉ๐ฒ ๐๐ข๐ซ๐ญ๐ก๐๐š๐ฒ ๐ญ๐จ ๐Š-๐Ÿ— ๐€๐ซ๐œ๐ก๐ข๐ž!!!!Image attachment

๐‡๐š๐ฉ๐ฉ๐ฒ ๐๐ข๐ซ๐ญ๐ก๐๐š๐ฒ ๐ญ๐จ ๐Š-๐Ÿ— ๐€๐ซ๐œ๐ก๐ข๐ž!!!! ... See MoreSee Less

2 weeks ago

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Happy birthday

Happy Birthday ๐ŸŽ‰๐ŸŽŠ๐ŸŽˆ

Happy Birthday K-9 Archie

Happy Birthday LEO ๐ŸŽ‚๐ŸŽ‰n many more ๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ™๐Ÿ™

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Great job, K-9 Groot!!!! ... See MoreSee Less

2 weeks ago
Thank you for 7 years of service, K-9 Jacquo!!!!Image attachmentImage attachment+1Image attachment

Thank you for 7 years of service, K-9 Jacquo!!!! ... See MoreSee Less

2 weeks ago

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AWESOME HAVE A GREAT LIFE OF LEISURE

Awesome! Enjoy your retirement and thank you for your service ๐Ÿ‘๐Ÿ’™

Beautiful. Happy Retirement. Thank you for your service and God bless you and watch over you

Thank you Officer Jacque stay safe ๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ™โค๏ธ๐Ÿ‘ฎ‍โ™€๏ธ๐Ÿ•

Happy retirement

Thank you for your service K-9 Jacquo. ๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™

Enjoy your retirement

♥๏ธ♥๏ธ♥๏ธ

Enjoy ur retirement n thank you for ur service ๐Ÿ’™๐Ÿซก๐Ÿซก๐Ÿซก๐Ÿซก

K9 Officer Jacquo ๐Ÿ’™ happy retirement and thank you for your service ๐Ÿ’™โฃ๏ธ

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Thank you, #Heroes!Image attachmentImage attachment+1Image attachment

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2 weeks ago
#Heroes ๐Ÿ’™๐ŸพImage attachmentImage attachment+1Image attachment

#heroes ๐Ÿ’™๐Ÿพ ... See MoreSee Less

2 weeks ago

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๐Ÿ™๐Ÿ’™๐Ÿพ

Welcome and thank you! Stay safe!Image attachmentImage attachment+2Image attachment

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2 weeks ago

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Congrats God plz keep her safe as she does her job ๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™๐Ÿ’™

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2 weeks ago
Welcome and thank you! Stay safe!Image attachmentImage attachment+Image attachment

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2 weeks ago
Welcome and thank you! Stay safe!

Welcome and thank you! Stay safe!Chris Schiller joined the Argonia Police Department as its newest part-time officer! He will serve as the interim Police Chief. Chris currently works as a federal officer in Wichita. Prior to this, he was a Special Agent with the Union Pacific Railroad Police and a law enforcement officer in Oregon. Chris is in the National Guard, serving as a combat medic in Afghanistan in 2014. If you see him, feel free to stop for a conversation! Welcome to Argonia Chris! ... See MoreSee Less

2 weeks ago

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Congrats Sir b safe out there as so many thugs don’t respect ur badge ๐Ÿ’”๐Ÿ’”๐Ÿฅต๐Ÿฅต๐Ÿฅต๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ™

Thank you for 37 years of service! Enjoy retirement!Image attachment

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2 weeks ago

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Congratulations now go and enjoy you deserve your retirement

Thank you for 24 years of service! Enjoy retirement!

Thank you for 24 years of service! Enjoy retirement!Last Thursday we said goodbye and good luck to Lt. Ryan Kwitkin who served for 24 years as he retired. Ryan worked in Patrol for most of his career, but also worked the tactical patrol team. I say retire, but Ryan is heading to another department out west where he will serve as their Deputy Chief. Ryan we thank you for your service and wish you well as you start your new journey. Keep in touch and check in every now and then. Be safe. ... See MoreSee Less

2 weeks ago

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Thank you for your service.

๐Ÿ’™๐Ÿ’™

Thank you for your service!! Enjoy retirement!

Thank you for your service!! Enjoy retirement!Today is the last day of the shift rotation and It is also the last time Sergeant Burkhalter will work an entire rotation. He will be retiring in a few months and moving with his family out of state. We are excited for him but also bitter sweet to see my former partner retire. His shift came together today and presented him with a gift to show their appreciation. Iโ€™m honored to work with a good group of people. Donโ€™t miss your opportunity to be part of something special. Join our family www.joinmonroviapd.org. Link is also on our profile. We got your six Sergeant Burkhalter ๐Ÿค˜๐Ÿฝ ... See MoreSee Less

2 weeks ago

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Many MANY thanks to each of you and especially Sergeant Burkhalter ๐Ÿ’™ enjoy your retirement Sir ๐Ÿ’™

Happy Retirement!!

๐Ÿ™๐Ÿ’™๐Ÿ™

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Use Your Home Equity Wisely

Several years ago, when investing in the stock market was not as attractive as it had been in the late 1990โ€™s and the borrowing costs for real estate loans began their descent to record low rates, a trend began.ย  People across the country started to tap into the equity they had in their homes at unprecedented levels.ย  Chances are, you were one of those people.

Why wouldnโ€™t you be?ย  If you are or had been an investor, there is still no greater investment than real estate.ย  If you are or had been a borrower, aย home equity line of credit was the cheapest access to funds available.ย  In most cases, the interest cost of borrowing against the value of your home was and is tax deductible.ย  For the most part, if you had a financial need, using your home equity was the smartest way to meet that need.

The most common way to tap your home equity is via a Home Equity Line of Credit, often referred to as a HELOC.ย  Borrowers have been attracted to HELOCโ€™s because the interest rate on a HELOC is almost always tied to the prime lending rate.ย  Lenders are attracted to HELOCโ€™s for the same reason.ย  Lenders enjoy far greater flexibility with loan products for which interest rates fluctuate with market conditions.ย  A variable rate loan insulates lenders from experiencing unfavorable impacts on their yields and the spread between what they charge for the money they lend and their cost for access to that money.

It should be noted that variable rate loans and the impact of a rising rate environment are not unique to HELOCโ€™s.ย  Many borrowers have taken advantage of lower rates via adjustable rate mortgages and increased credit card balances.ย  Borrowers who are paying off multiple, variable rate loans will clearly absorb an even greater impact as rates rise, which leads back to the question of when and how should someone consider using the equity in their home.

First, letโ€™s quickly define home equity.ย  You can determine the amount of equity you have in your home by subtracting the amount you owe on your home from the value of your home.ย  The amount you owe is determined by adding up the principal balance of your mortgage and any other loans that you have taken against your house.ย  Determining the value of your home is a little more subjective.ย  Ultimately, your home is worth exactly what the next buyer is willing to pay for it.ย  For a free estimate, however, ask a local realtor for a Competitive Market Analysis (CMA).

Even with the risks and concerns related to borrowing in a rising rate environment, there are good reasons to tap your home equity.ย  For instance, if you have made or intend to make a long-term commitment to reside in your current home and you need to make improvements to your home, it absolutely makes sense to utilize the equity in your home for those improvements.ย  You should clearly understand all of your options, including a fixed rate home equity loan or using cash reserves, but investment in your family home is almost always a sound choice and the money you spend improving your home will almost always be returned to you in the form of appreciation in the value of your home.

If you have a heavy debt load that bears high interest rates, you may want to consider consolidating that debt via a home equity loan, especially in cases where you are barely making the minimum monthly payments and/or the bulk of your payments are going toward the interest on the loans versus the reduction of the principal amount owed.ย  Using a home equity loan to reduce your interest rate and your monthly payments is a smart move as long as you are also committed to sound financial practices.ย  In other words, donโ€™t bother consolidating your debt just to go back out and run up your credit card balances again, you will only compound your financial problems.

Although it is often not advisable to borrow money for the purpose of investing it elsewhere, there are opportunities that are worthy of careful consideration.ย  Many real estate investors get started by using the equity in one property to make a down payment on an additional property.ย  As would be the case for any venture you consider, it is vitally important that you understandย allย of the factors that can or will impact the benefits and risks associated with that venture.

There are also situations that are not conducive to using your home equity.ย  It is never advisable to payoff a lower interest rate debt with a higher interest rate debt or with debt that has the reasonable potential to be a higher interest rate debt.ย  This is especially true in a rising rate environment.ย  Do not trade a short-term gain for long-term pain.

It is vital to maintain a contingency plan, to be prepared for the unforeseen.ย  Tapping 100% of the equity of your home for virtually any reason is not reflective of sound contingency planning.ย  Furthermore, it is healthy and logical to maintain control of your finances.ย  Using all of your equity in what is often your most precious financial asset is not consistent with preserving that asset.ย  Do not put yourself in a position that would jeopardize your ownership or control of your home.

When considering whether or not to use some of the equity in your home, be sure to spend the time needed to fully understand the terms under which you will be borrowing against your equity.ย  Understand the interest rate options and the variability of those options.ย  Understand the length of time you will have to repay the loan.

It is equally important for you to understand your objective in using your equity and what you are looking to achieve, whether it be an improved home or lower credit card debt.ย  Make sure that the use of your home equity is a worthwhile endeavor.

If you use it, use it wisely.

To learn more about the Credit Union’s Home Equity Loans,ย please visit our website.

Scott Arney
Chief Executive Officer
Chicago Patrolmenโ€™s Federal Credit Union

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