The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/cash-out-refinancing-15027177.aspx

Subject:  cash out refinancing Date:  5/23/2001  1:03 PM
Author:  sanddoig Number:  72178 of 308782

First post hope it works.
I recently had my home appraised and it seems that after only 1 1/2 years the value has increased some $45,000 from $63,000 to $105,000. Of course there was some elbow grease involved. I am in the process of refinancing and was wondering if it would be better to cash out at 7.125 and pay off about $14,000 worth of debts (interest on that is no lower than 14%) or to do a home equity loan at 7.99 and have it payed off in under five years. Any suggestions?
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us