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re: I need some advice from the financial gurus
Posted on 2/26/24 at 4:54 pm to TIGERSby10
Posted on 2/26/24 at 4:54 pm to TIGERSby10
How much equity in your house?
Posted on 2/26/24 at 9:12 pm to SalE
quote:
How much equity in your house?
It may not be available.
But debt consolidation on a 2nd mortgage (heloc) would be a huge win for you.
It would definitely free up capital and get some of the debt on a slow payoff plan (throwing extra money if successful could speed up that payoff).
Assuming the 2nd is not an option, a first mortgage (30yr) debt consolidation could be a better alternative to bankruptcy.
The key is to do it before it is too late.
If you are sinking (and a heloc/2nd is not available), I would seriously consider this before you rack up too much debt that it doesn't help.
Posted on 2/28/24 at 12:16 pm to SalE
quote:
How much equity in your house?
Roughly $65,000 on $220 K value (7 years ago).
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