Risks And Rewards …

Using equity in your home to pay off credit card debt

fewer outstanding loans on your credit report.

  • The interest is tax-deductible in most cases.
  • RISKS:

    • Is based on your home’s value, which varies. If the value drops, so does your equity.
    • Could cost thousands of dollars in fees and paperwork. Plus, penalties may be incurred if the loan is paid off early.
    • Could cause you to lose your home if the loan isn’t paid back.
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