Date: Sat, 21 Feb 2004 12:13:52 CST
 (Sat, 21 Feb 2004 11:08:39 EST)
From: Bob 
Subject: home eq loan to boost savings?
Newsgroups: misc.invest.financial-plan
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	=GIwu

Does it make any sense to take out a home equity loan in order to put the
proceeds into a savings account? My wife says that we should have 6 months
salary in savings just in case I ever got laid off.

I do not feel like I am in any danger of getting laid off - there are none
going on at work and I do a good job and my reviews are always very good -
but I suppose it *could* someday happen.

Given that - should we take out a home equity loan now and put it into some
sort of savings acount? For us, 6 months salary would be about 15% of the
total equity we have in our home. I've never heard of anyone doing this, but
we have no debt, so I guess if people take out loans to pay off credit
cards, we could take out a loan to put in savings... I don't know...