Home Equity loan to pay off debt? | Ultimateonlinemortgage.com

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Learn about the characteristics of a home equity loan and how it can be used to help you pay off your outstanding credit card balances.

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So before you get a cash-out refinance, home equity loan or home equity line. ” If you're planning on tapping home equity to pay off debt, there.

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Home equity loans have lower interest rates than credit cards, but carry significant risk.. Will this plan allow me to pay off my consumer debt within five years?