I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

Should I pay off my credit cards with the money I have at my equity line, in order to avoid high interest rates from my credit cards?

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

no no and no, if something happens like an illness, job loss, etc. how in the world will u make the monthly mortgage payments, if u stop paying on the credit cards, what can they do, worse case scenario is get a judgement and ruin ur credit, but they cant take the house. stop making mortgage payments and i guarantee in 90 days the bank will be knocking on the door. this is what has created the problem we face today, so many folks rolled credit cards, car payments etc. into the equity of the home, it is not a wise move and i have seen thousands of these situations. then ur world goes bam and then what do u do. MY ADVICE IS DONT DO IT%26gt;if you have any savings use that to pay down the credit cards, be sure to leave a 60-90 day cushion though, can u borrow on ur 401k or ira to pay down the cards, and then pay urself back, i am sure you have seen the transfer credit balances with 0% interest rates for a period of time, play the game and move the balances and pay off what u can, then when its time move it again, anyone with smarts and good credit is doing that its like free money. gl to you but no matter what PROTECT YOUR HOME

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

NO NO NO The credit cards may be at a higher rate, but they are %26#039;unsecured%26#039;. Move that debt to your equity line, now it becomes %26#039;secure%26#039; and if you can%26#039;t pay, they can force you to sell your house to pay it off. DO NOT DO IT- seems unlikely to happen, but is possible, not worth the risk.

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

No, you should pay them off - period. Don%26#039;t move them around to save $40 or $50 over the next year. Get serious and pay them off.

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

yes yes yes. Pay off the high interest cards. Plus the equity line on your house is tax deductible... You credit ards are not.

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

I would be inclined to say no for the reasons listed above.

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

I would pay them off, it may be risky, but you can get serious and pay them off.

I have a home equity line with 7.5% interest. I have some credit cards that has higher rate....?

No. Do not pay CC%26#039;s with a home equity line. If you default on the CC payments..your house it at risk.