Should You Pay Off Credit Card Debt With a Home Equity Loan?

Should You Pay Off Credit Card Debt With a Home Equity Loan?

If you're sitting on credit card debt, you may be eager to pay it off as quickly as possible. The longer you carry a credit card balance, the more interest you're apt to accrue. In fact, if you own a home and have a lot of equity in it, you may be thinking of taking out a home equity loan and using it to pay off your credit card balance.