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re: Paying off student loans with mortgage equity
Posted on 7/23/17 at 9:51 pm to Phil
Posted on 7/23/17 at 9:51 pm to Phil
Have you looked at refinancing her student loans? Might be able to get that rate down a good bit.
I'm not a big fan of pulling cash out of a house to pay off other debts. I saw too many people do that before the housing crash and it caused them to be upside down during the cash. Lose a job and you got a real problem.
I'm not a big fan of pulling cash out of a house to pay off other debts. I saw too many people do that before the housing crash and it caused them to be upside down during the cash. Lose a job and you got a real problem.
1
Posted on 7/23/17 at 9:55 pm to LSUFanHouston
Yea but If he lost his job or whatever he could get out of a mortgage default and if the student loans were rolled into that then he would be free and clear.
If something happened now and he lost his equity due to a crash, then his job.. he'd be jobless with a student loan he couldn't get out of
A student loan is a deal with the devil you can't undo it typically in bankruptcy
If something happened now and he lost his equity due to a crash, then his job.. he'd be jobless with a student loan he couldn't get out of
A student loan is a deal with the devil you can't undo it typically in bankruptcy
This post was edited on 7/23/17 at 9:58 pm
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