My husband and I make about $130,000 annually and have about $40,000 in credit card debt. We have three cars that are fully paid for but none of them are worth much. We have about $90,000 equity in our home but still owe more than that. His idea is to take some of the equity and get a 15-year loan that will pay off the credit cards. I dislike the idea of using the equity we've built over four years to pay off credit cards. I think we should take some money out of the IRA left by his mother to pay off some of the debt and keep making payments. He thinks the taxes on this will kill us. Is his option better?
Submitted November 02, 2018 at 04:23PM by redraidermother https://ift.tt/2SFBuov
