No. of Recommendations: 0
I am going to go out on a limb and not join the pack. You HELOC interest is tax deductible and not due in full for an extended number of years. If you are late on a payment, there may be a late fee, but nothing like being subjugated to a default rate. Your credit cards, on the other hand, are consumer debt and carrying a balance can be a negative on your credit report; you are expected to carry a balance on a HELOC. Under no circumstances do I recommend borrowing money, say through a BT, to pay off debt.

Who negotiated a HELOC refi last January to shave a quarter point off rising rates without costing himself any money...
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