How to Protect Yourself from HELOC Disaster

Sometimes, something that you think is safe can turn into something quite dangerous. Like golfing, one of the safest sports known to man. Or is it? A golfer in California recently hit a routine stroke. The ball hit a rock and actually started a fire, which enflamed 25 acres and required 150 firefighters to tame it. While a home equity line of credit (HELOC) seems potentially less harmful than a golf ball, the results could also be explosive if you use it incorrectly. Here are four ways to avoid being burned by your HELOC.