Selling vs re-mortgaging to pay off debts?
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mariquilla
Apprentice
Joined: 27 May 2005
Posts: 5
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 Posted: 01/06/08 - 05:16 Post subject: |
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| I don’t know what to do anymore because I’m in debts and have a mortgage so I wonder what is better to sell the house or to re-mortgage to pay off debts. I think it’s better way to re-mortgage since we won’t lose our home that way, right? |
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ax
Apprentice
Joined: 31 Jul 2007
Posts: 4
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| Posted: 02/05/08 - 01:39 Post subject: |
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| Well, re-mortgaging could be better way to solve your problems but you need to check out terms and conditions. Paying off debts doesn’t usually require selling home. Maybe you should think about taking out a home equity loan because it offers you a fairy low interest rate and keep in mind that that interest is tax deductible. |
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