Quote:
Originally Posted by Hatterasguy
Thats sometimes a very good idea, a local bank is doing them for 4.5%. Use the HELOC to pay off all the high interest debt, and now you have just one payment, with less interest, so if you keep paying what you were it eats the principal fast! Just can't go rack up the debt again.
Good to hear Swamp! 
I will owe just under $20G's when I get out of school. If I can still sell houses I'll have to sacrifice one deal to kill it. |
Thanks, Hattie. I was one of the fools who did a refi + cash back, early on in my financial excavation, to pay down my debt only to rack it back up again. I've still got plenty of equity but I'm tired of loans and the process in general, even if it might expedite the matter. I'm probably just going to double or triple the payments and pay it off early.
And trust me, there is no danger racking it up again!
10-08-2008, 07:37 AM
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