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How does a home equity loan work? Here are some pros and cons to keep in mind if you're planning on using your equity to eliminate debt.
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When people try to pay off credit card debt, they'll consider almost any option. But using home equity is a dangerous way to get out of debt.
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Reduce interest rates and your monthly payment by consolidating debt with a home equity line of credit or home equity loan. Pros, cons and alternatives.
There are advantages, for example, to taking out a home equity line or home equity line of credit to pay off credit card debt. A fixed-rate home.
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Get a home equity loan and pay off everything. loan. But it isn't the silver bullet for debt.