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Personal Finance and Investing

Beartracks

(14,223 posts)

4. That's something to consider.

Reply to SheltieLover (Reply #3)

Sun Nov 16, 2025, 05:31 PM

Sunday

I absolutely need to consolidate the cc debt so I can pay it down faster and save on the stupidly high interest. Maybe 5-7 years? Then, with my "total debt" going down, maybe my credit score would edge up a bit by springtime, so additional loans (whether personal or home equity) might be more possible on an ad hoc basis for the home repairs. Although monthly cashflow for additional payments could still be an issue.

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Home equity vs. personal loan for cc debt [View all] Beartracks Sunday OP

You're on the right track: surfered Sunday #1

Home equity loan interest is no longer deductable IbogaProject Sunday #6

Take the loan in December orJanuary as Home Equity loan interest paid in 2026 is deductible. Per the IRS at link below surfered Sunday #11

Ok that might make it more cost effective IbogaProject Sunday #17

Don't encumber your home WhiteTara Sunday #2

Can you focus on one project at a time & take a smaller loan for a project, pay it off, them take another loan? SheltieLover Sunday #3

That's something to consider. Beartracks Sunday #4

Or just maybe pay off or pay down cc debt, then select project? SheltieLover Sunday #5

Probably looking at 5-yr payoff for the consolidation loan. Beartracks Sunday #7

My daughter is in the same boat biophile Sunday #9

Hey, can I apply at your local Bank of Mom branch? Beartracks Sunday #13

You can apply but she has just about tapped me out! 😆 biophile Sunday #16

A home loan is better than a HELOC but both should be last resort biophile Sunday #8

Per CreditKarma, I'm a good candidate. Beartracks Sunday #14

Good! Then wishing you success whatever you decide! biophile Sunday #15

Don't touch your equity mzmolly Sunday #10

Personal loan - investigate SoFi. They loan, but also broker loans. 3Hotdogs Sunday #12