Pay off credit card with fixed home equity draw? related questions

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Pay off credit card with fixed home equity draw?0Sanmjha2012-09-15 14:01:03
My 48 y / o sister asked me a question and I do not want to give bad advice . Here is the question and said financial information : MedlinePlus MedlinePlus Should pay your balance at 8.25 % (first for life ) credit card ( with a long history and excellent credit ) and put the balance towards your home equity loan ? Both have high GRAPHICS . MedlinePlus MedlinePlus It currently has a mortgage of $ 200K first fixed at 4.25 % until 5 / 09. They also have a fixed ( locked ) rate of 7.65 in its line of home equity within 10 years with a current balance of $ 50,000 ( $ 18K imported ) . Your house is worth between $ 550 580K . They only have a credit card to use , but is $ 12K ( essential for life ) , currently 8.25% , and for at least twice monthly payments in an attempt to settle . They would like to eliminate credit card debt , if you might be able to save more and not feel so stretched each month . In addition , a teenager now needs a car (more output) . MedlinePlus MedlinePlus Banker will lock addt'l draw and combine for 7.6 % . Annual Salary $ 90K . Advice?
Should I get a home equity loan at 7+% or keep moving credit bal. to new cards with 0% intro rates, 3%fixed?3kerstin =)2012-11-03 07:33:01
I have 20k in credit card debt , 8k is at 2.9% or 3.9 % until paid off ! The rest is at 0 % until April '08 . By then I will have more offers for new cards, with the balance. free transportation and often 18 months at 0% I could move forward the balance and do not worry , I've done this for years and does not seem to have enough credit score affected area. I know there are tax advantages for home equity loans , and I can be achieved easily, but it is worth paying a 7% +? Is there a mathematical calculation to figure this out ? Another factor :. I will probably sell the house within 10 years and pay everything off A full case of refinancing. does not look good , because my mortgage is at 5.38% , and probably would go for at least 6 %
Is it possible to consolidate a first mortgage and a home equity line of credit into one fixed rate loan?0sayra2012-10-07 22:33:07
Is it possible to consolidate a first mortgage and an equity line of credit into a fixed rate loan ?
Adjustable rate vs fixed 7.57% home equity loan?0Morgana2012-11-02 20:06:09
I have a fixed rate 64000 line of credit at 7.57%. With the resent rate decrease the adjustable rate I can transfer it to is at 5.8%. Tuesday they may lower it .5 - 1% more. Would it be worth transfering it to adjustable rate. I would save around 100 a month on interest that I would apply to the principle. Also how long will the lower rates remain and would they increase it slowely so a person would be able to relock in at a lower rate?
Fixed Rate Home Equity Loans online?1Vision/ Help2012-10-13 18:03:03
Wheres a good place to get a fixed rate mortgage loans money online ?
Should I refinance at [email protected] (fixed rate). I am paying 6.5 now or should I take home equity loan at 5.25%?0Tillie2012-11-03 01:32:27
I owe approx 100k. I am not sure which way is better for tax.
I have a 15yr fixed home equity loan in the amount of 50,000. I also have a car note for 27,000. ?3manuel2012-09-22 09:20:02
Both accounts are at 6.99% . I recently acquired 20,000 to put one of these accounts . My question is what account should I put money toward . He was leaning toward the car note so he could keep a cancellation later this year with the home equity loan . On the other hand , is paying the extra money is worth the interest write off at the end of the year . Very confused , Tom
Is a HOME EQUITY LOAN better than using a CREDIT CARD?0andrew bradley2012-11-02 16:03:10
I want $18,000 to put toward a home improvement project. HOME EQUITY TERMS - 5.85% FIXED APR for 60 months. CREDIT CARD TERMS - 3.99% FIXED APR for 60 months. Which would be a better decision and why? THANKS!
Which is better? Refinance, home equity loan, or home equity line of credit? To buy a car and remodel home.?1taleen2012-10-06 01:43:03
Which is better ? Refinance , home equity loan or home equity line of credit ? To buy a car home and remodeling . ?
Can I transfer a home equity loan from my bank to a credit card offering a lower APR. My banks says no.?1Daca2012-11-05 01:48:01
Can I transfer my balance equity loan ( $ 10,000 at 8.25 % APR ) through my bank to a credit card with an APR lower value (eg a balance transfer card by 1 , 9 % APR for 18 months) . My bank says no .... not without a cash transfer . Why not ? I have excellent credit and this will save me to pay interest for a year and a half . By then , almost all would be paid $ 10,000 too (I put in about $ 700 a month ) . Any advice ?
Should I refinance Home Equity loan to consolidate credit card debt (I am buying a new house in 120 days)?1daydrian2012-08-23 15:39:02
Consider this : 1 . I have $ 30k in credit card debt . 2 . I have a first mortgage for $ 200k (4% ) and an equity loan of $ 170K (a prime rate ), without additional available credit . 3 . I will buy another house in late April. Would it be better to refinance my home equity and credit cards in a new home equity loan , or just stick with what it is? I heard that I can be able to get better rates on loans for my new house, if I can refinance. Could this be true? Thoughts ? Comments ? Alternatives ?
Is a Home Equity Line of Credit or Home Equity Loan used to buy a second home tax deductible beyond $100,000?0confidence2012-11-03 06:41:28
Would a Home Equity Line of Credit or loan used to buy a home be considered a Home Aquisition Debt instead of a Home Equity Debt?

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