Housing Market Crash 2021 | How To Protect Your Home. As we saw in 2008, thousands and thousands of people lost their homes in the housing market crash. It was a devistating event for the housing market and many people lost their home and potentially their life savings. But in this video I bring back David and we discuss how to protect your home during a market crash. David is a 28 year veteran in the mortgage/housing industry and he sheds some light on how to protect your home during a market crash/recession. 0:00 Intro 0:42 How do you protect your home during a housing market crash? 1:38 How does a HELOC help? 4:00 Do you think a crash is coming? 4:50 How do you get a HELOC? 6:24 The process of getting a HELOC 7:09 Last words from David With a potential housing market crash happening in 2021, I bring back David, a 28-year veteran in the mortgage industry to talk about how you can protect your home in the event of a housing market crash. So this is probably one of the biggest questions that people are asking during this time, what do I do to protect my home? Well David's first point is having access to equity and to not have all of our equity stuck in our home and not be able to access it. And the thing that David advocates for the most is having a Home Equity Line of Credit. A Home Equity Line of Credit is a line of credit that collateralizes the equity within your home. So in a nutshell, it's access to your home's equity when you need it. And you'll most likely need it if there were to be a housing market crash. Now the reason that a HELOC will be a great cushion is in the event that you loose income and need to make payments to anything, the HELOC will be there to help you out. So this means during a recession or a market crash, you'll be somewhat safe for the bills and utilities that you may owe. Now at the moment we have no idea if there will be a housing market crash in 2021 or will it be just a smaller correction, but either way with a HELOC you'll be safe. Now some are probably wondering where do you find a home equity line of credit or what are the requirements to get a HELOC. Now David recommends if anyone in in a position in their equity of their home, to definitely get a HELOC, regardless if you need it or not. It'll provide a piece of mind if we do end up in a market correction that's big enough to crash the housing market and anything less. So in order to get a HELOC you'll need to know the home's current value and what you owe. The bank will then determine how much they'll give you in a line of credit. Some banks even go all the way to 80% of the homes value. And that's a substantial amount if you need to survive 6-8 months if you find yourself unemployed and needing to make monthly payments towards living expenses. So in conclusion, if you find yourself in an equity position, go ahead, get a HELOC. It'll provide a piece of mind in the event the housing market crashes in 2021 or anytime in the future! 😃 Thanks for Subscribing & Liking our Video! 📧 ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 📡 PROTECT YOUR ONLINE DATA AND ACTIVITY WHILE CLOSING DEALS AND GENERATING NEW LEADS WITH NORDVPN: https://go.nordvpn.net/aff_c?offer_id=15&aff_id=40858 🔊 Our Podcast: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #realestateinvesting #thekwakbrothers #realestate ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.