Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
If it were me, I would avoid adding credit card deb. Pay off the medical and educational debt (the latter can possibly be written off as a non-reimbursed employment expense), and then the HELOC. If you are concerned you might need $3500 for your father, I would set that aside as well in a money market savings account before paying down the HELOC.

You don't mention the rates for either the loan or the HELOC, but I would imagine that you are paying more in interest than you are earning on those mutual funds. And while all the high pressure commercials would have you believe otherwise, this is not your last chance to get a decent refinance rate. You get your debts down now and in a year, who knows what the mortgage market will look like. Focus on saving money and paying down the HELOC and keeping a low debt to credit ratio to improve your credit score.

Fuskie
Who notes you can use a site like CreditKarma.com (free and save and Clark Howard approved) to check your credit score and see what steps you can take to maximize your credit potential when you are ready to get that refi...
Print the post  

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement