Ask the Dolans: Should we take out a home equity loan to pay off debt?

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Dear Ken and Daria,

My husband and I have $7,000 in credit card debt. Should we take out a home equity loan?

Lyndajoy

Ken and Daria Dolan offer advice on all of your debt concerns at their Credit Resource Center.

Click here to ask Ken and Daria your question.

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Alena Willim

A reverse mortgage allows seniors to convert their home equity into cash without having to sell their home or pay additional housing bills. Before making this financial decision, an individual can research the pros and cons of a reverse mortgage to determine whether this type of mortgage is the right decision for them.


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http://www.reversemortgagelendersdirect.com/reverse-mortgages-pros-and-cons/

July 12 2013 at 2:42 PM Report abuse rate up rate down Reply