We have credit card debt of $72k. (cancer treatment costs) We have excellent credit and own two homes, but are cash poor and have the high credit card debt that we want to pay off
WE WANT TO PAY OFF THE $72K AND HAVE A CUSHION OF AT LEAST $25K. Here is the break-down:
HOME #1 PAYOFF - $279K, WORTH $425K (currently rented covering payments)
HOME #2 PAYOFF - $245K, WORTH $425K(currently live in but want sell and leave the area in the next year or two)
SELL A HOUSE AND PAY OFF DEBT, LEAVING CASH IN THE BANK OR KEEP GREAT REAL ESTATE INVESTMENTS AND GET A LOAN OF $100K, PAY OFF DEBT LEAVING $28 CASH IN BANK. We just can't wait another year or two to pay off the credit card debt because we are broke each month after paying bills, and need some relief now.
Both homes are in hot markets. Dallas/Ft Worth & White Mountains Arizona.
Any ideas or help are much appreciated!!
2007-07-10
12:39:18
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3 answers
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asked by
CleoCATra
4