The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: 401k loan to pay off HELOC Date:  7/2/2014  8:15 AM
Author:  reallyalldone Number:  75305 of 88532

One "issue" in our financial life is the home equity loan we have that has a balance of just under $30k. We have ~$300k equity in the house (8 yrs left on a 15 year mortgage). Plus, my wonderful wife would like to do a $20k basement/backyard remodel.

I would start from a different angle. What's the cheapest, most efficient way to pay off the HELOC and do the remodel ? Depending upon the value of the house, I'd do a cash out refinance.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us