HELOC and best option how to pay off
Husband and I have $80k balance for HELOC
I have approximately $900k in different IRA and retirement funds rate of HELOC is 3.93%
Renewal 8/21. Mo. Amt due $284. I pay $500 per month. Need help from you. Do I take money from retirement acts and get rid of this? (It’s killing us. In that it’s annoying. )No other debt. Two homes. (With all the expenses) Eventually will retire to home in michigan Long question. Sorry. PS. Thanks for all the good info on fraud prevention and cbr tools found on your recent letter.
Terry Says
REFINANCE that HELOC into your mortgage right now — while rates are low! that’s the only way out of a situation that will get expensive soon. Consider selling Chicago home as soon as market rebounds. This is a perfect time to do a complete financial review with a FEE-ONLY, Fiduciary (your interests first) financial planner. Find one using the link in one of the white boxes top right of my website. I don’t know how long into the future your “eventual” retirement date is, but even $900,000 won’t be enough to support your lifestyle for a presumed 30 year retirement. So don’t dig into that fund now!