Very interesting product! For those who are truely disciplined and responsible, this appears to be a rather useful option when considering tools to use in bettering your financial situation.
It is absolutely BS, worst card option and there is no guaranty. Process is very much pain. No phone customer service I have applied this card and initially pre-approved. Later submitted my application and gave the approval with 12* percent with 100K Taken the notary and notified us after a week that we are not able to approve.
Why not just do a secured credit card using the house as collateral? Get the interest rates in the ~5% range. This is only good if you have revolving debt. 🤷♂️
With regular HELOC's it's usually a desktop appraisal or virtual appraisal product. Those are products that don't send an actual appraiser to the property. Could also have a valuation mode. I'd guess Aven is using a model. Banks would do the desktop review and maybe pull title to make sure you still own the property.
@@GeneClements The had a bug years ago that allowed people to trade on infinite margin or something like that markets.businessinsider.com/news/stocks/robinhood-infinite-leverage-bug-copycat-trader-builds-huge-position-millions-2019-11-1028666004
