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Going through a financial emergency is not a matter of “if” but “when.” This is a situation that all of us will go through - that is for sure. This is not about being pessimistic. The reality is that our lives can be greatly affected by factors that are beyond our control. No matter how careful we are, we can still be involved in a car accident - especially when we are unfortunate enough to drive alongside an irresponsible driver. This is the reason why setting aside some money to pay for these unexpected expenses is a real necessity. But for some people, saving is not really that easy to do. People struggle to save and one of the culprits are these unexpected expenses too. This is according to the study done by PewTrusts.org. When you start saving money, something happens that forces you to dip into this emergency stash of cash. While we all know that it is what you are saving up for, it also puts you in danger of running out of money. There are instances when one emergency happens after the other. When that happens, you might still end up borrowing money just to survive a series of unexpected situations. This is probably the reason why some people look into a Home Equity Line of Credit (HELOC) to help them survive a financial emergency. According to an article published on Forbes.com, the HELOC business is up once more by 30%. Among the reasons why people get it is for debt consolidation, education expenses, and even home improvement. But one of the surprising reasons for homeowners to get this is as an emergency line of credit. The article mentioned that people with no credit use it for liquidity purposes. If you think about it, there is a certain logic in using the equity in your home as an emergency fund. After all, this is your money. It is just there and you are not using it anyway.