Posts Tagged ‘Credit Card Debt’

What are the major drawbacks with getting a Home Equity Loan on a mortgage to pay off credit card debt?

Saturday, May 24th, 2008
home mortgage loan credit
Tameeka asked:


We’re in our 50’s, with a house that’s worth twice of what’s left to pay off on our mortgage. We were hoping to use the equity for our son’s college in a couple of years, or as a retirement cushion, but want to pay off some MAJOR credit card burdens. Any advice?

Raymond