No. of Recommendations: 2
I know it is dangerous to “post out loud”

Well, it is a lot better than going out and getting the HEL or HELOC without Foolish feedback.

I must say since our house has been paid off for the last decade or more, I am really unfamiliar with the ins and outs of this type of financing.

I was concerned that you "refinanced" DW's Honda, but that seems to be working out for you and I think you indicated it would be paid off by the time you do the HEL. (The Honda is the Chase OD, IIRC)

Part of paying your debt is the numbers part; the other is self-discipline. I worry that if you pay off your debt this way, you may end up in a worse mess.

I suggest you go back and read the posts of those people who have done what you are considering--some probably quit posting. I haven't been around that long so maybe some of the other Fools can point you to specific posts to read.

I know you are anxious to pay things off, but I think patience may be a friend to you. With our debt, I kept repeating to myself:Slow and steady wins the race.

We actually had enough in stocks and other assets that I could have sold them and made the debt disappear overnight. We chose not to and I know I have benefited from a disciplined month by month pay down.

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