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Refinance Home Equity Loan
Question and answers refinance home equity loan information
Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)?
Consider this 1. I have $30k in credit card debt.2. I have a 1st mortgage for $200k 4 % and a Home Equity line of $170k at prime rate with no additional credit available.3. I am buying another house at the end of April.Would I be better off refinancing my Home Equity and Credit Cards into a new Home Equity loan, or just stick with it as is?I have heard that I may be able to get better rates on my loan for my new house if I refinance. Could this be true?Thoughts? Opinions? Alternatives?
Refinance, home equity loan or sell?
We have credit card debt of $72k. cancer treatment costs We have excellent credit and own two homes, but are cash poor and have the high credit card debt that we want to pay offWE WANT TO PAY OFF THE $72K AND HAVE A CUSHION OF AT LEAST $25K. Here is the break down HOME 1 PAYOFF $279K, WORTH $425K currently rented covering payments HOME 2 PAYOFF $245K, WORTH $425K currently live in but want sell and leave the area in the next year or two SELL A HOUSE AND PAY OFF DEBT, LEAVING CASH IN THE BANK OR KEEP GREAT REAL ESTATE INVESTMENTS AND GET A LOAN OF $100K, PAY OFF DEBT LEAVING $28 CASH IN BANK. We just can't wait another year or two to pay off the credit card debt because we are broke each month after paying bills, and need some relief now.Both homes are in hot markets. Dallas Ft Worth & White Mountains Arizona. Any ideas or help are much appreciated
Smartest way to pay debt refinance, home equity loan or a payment plan??
I have debt totaling 30,000. I own a home in which I have over 150k equity in. I want to pay this debt once and for all. What would be the smartest way to do this? Should I refinance, take a home equity loan or set up a payment plan? My mortgage rate is 5.375 so refinancing would put me into a new higher rate since rates have gone up. I also have access to $10,000 in my 401k that I could borrow. I just want to make the right decision here. Any help would be great Thanks.
Which is better? Refinance, home equity loan, or home equity line of credit? To buy a car and remodel home.?
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