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Sub: #1 Where should we put our money
Replied on 11-18-2007, 07:32 PM
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We recently came into some money and aren't sure of the best way to use it to get out of debt. We have a low interest credit card (6.9%)with 20,000 on it and a home equity loan (9.1%) with 73,000. Our mortgage and home equity together are more than the amount the house is worth. This worries me. We can either pay off the credit card completely or pay 20,000 towards home equity or 1/2 of the credit and some of the home equity. What is the best option here?
Thanks
Amy




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