im trying to get a home equity line of credit.but it ask for my liquid assets.but i dont know what that means.can someone please tell me what liquid assets mean.
2007-06-06 11:30:04 · 4 answers · asked by kaveman15120 4 in Business & Finance ➔ Credit
I recommend:
1) Liquid assets are things like cash and investments which you can take out relatively quickly and use it as cash.
This includes but is not limited to: balances on checking accounts, savings accoungs, CDs, stock brokerage accounts (stocks, bonds, and mutual funds), retirement accounts, and cash value of life insurance policies.
Your house, cars, baseball card collection, jewelry, or other "valuable things" that needs to be sold to a buyer to convert to cash will not qualify as liquid assets.
Good luck!
Just Be!
2007-06-06 11:37:39 · answer #1 · answered by MBA Don 4 · 0⤊ 1⤋
What you can convert to cash, fast. Stocks, bonds, savings etc. Not a good sign, do you have equity in your home? If you have then these questions are not normally asked. Might be setting yourself up for a downfall be careful
2007-06-06 11:37:34 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋
liquid = easily accessible or easily converted to cash..(e.g. checking, savings, CD's, etc...)
for your purposes, they will also accept cash value life insurance polices, retirement funds (401k, IRA, 403b...etc) vested balance...
cash on hand...stocks...bonds...and the like
2007-06-06 11:37:21 · answer #3 · answered by jacksonphisig 4 · 0⤊ 0⤋
Money and anything that can be converted quickly into cash.
http://economics.about.com/cs/economicsglossary/g/liquidity.htm
2007-06-06 11:33:55 · answer #4 · answered by Alletery 6 · 0⤊ 0⤋