Question by Bella: Pay off credit card with fixed home equity draw?
My 48 y/o sister has asked me a question and I don't want to give her bad advice. Here's her question and her stated financial info:
Should they pay off balance on their 8.25% (prime for life) credit card (with a long and excellent credit history) and put that balance towards their home equity loan? Both have high FICOs.
They currently have a 1st mortgage of $ 200K fixed at 4.25% until 5/09. They also have a fixed
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