Are home equity loans a good way to consolidate debt? If not what is better?
Posted in Home Equity Loans on 01/03/2012 12:42 am by admin
Question by Boss: Are home equity loans a good way to consolidate debt? If not what is better?
Instead of paying on 2 credit cards that are fairly high balances, should I pay them off with an equity loan and have one payment and keep my credit card equilibrated zeroed out each month…..
Best answer:
Answer by Emperor Norton II
Debt consolidation is a convenience.”Should” is a good point to consider. If you are looking just at simplicity, then yes. If you are looking at lowing interest rates, then you might want to stick with transferring balances on the credit accounts instead.
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