Pay
Off Debt
The
difference between credit card debt and a mortgage can,
financially speaking, mean thousands of dollars.
Why
You Ask?
Because
unlike your mortgage, the interest you pay on a credit
card is not tax-deductible and you pay a higher rate
than you would on your mortgage.
Because
of this, credit card debt is often referred to as “bad
debt” whereas your mortgage is considered “good debt.”
Using your home equity to pay off your high-interest
credit card debt can save you money in the long run.
Using
your home equity, rather than your credit cards, to
finance expensive purchases can also be a smart move.
Be sure to consult your tax advisor.
Debt can ruin a family's life. Don't let this happen
to you. If you need help with paying off your debt,
please get in touch with us and we'll be glad to help
in any way we can. |