Should I Use Home Equity to Pay Off Credit Card Debt?
Homeowners may be tempted to tap their home equity to pay off their card debt. After all, home prices have skyrocketed, and interest rates for home loans are higher than they were yet still lower than most credit card rates. But should they? The answer isn't as obvious as it may appear. You Would Put Your Home at Risk A home equity loan or home equity line of credit (HELOC) is a type of debt that leverages the equity in your home. "Equity" is the portion of your home's... read more »