The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Tradelite who wrote (2448)	4/30/2002 2:10:33 PM
From: Skeeter Bug	Read Replies (1) of 306849

trade, clark howard recommends not rolling over one's credit card debt into a home equity loan for a very specific reason. many people will just recharge their cards (the behavior that caused the initial problem didn't just change!) to the limit and now they have the same problem with a home equity loan to boot! so, there is a reason not to take the lower interest option - the school of hard knocks to learn a fundamental lesson. having said that, i would always recommend the cheap money to those disciplined and savvy enough to make good financial choices. <<Also, if someone is paying 18-24% in credit card rates, the last thing, likely, that they should be doing is rolling their credit cards into a home equity loan.>> That is probably the strangest thing I've ever read or heard on this particular subject, Boz..... but if you believe it's better to keep paying for the most expensive money in the world and avoid borrowing the cheapest money in the world,go ahead and be happy in your belief.

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