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Real Estate
The Real Estate Adviser |
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January 8, 2004
The Real Estate Adviser: Consumer debt: time to reduce, restructure
By TOM KELLY
Special to the Journal
Special to the Journal
If the holiday trip to grandma's house, the kids' winter tuition and an overly generous Santa Claus impression nearly maxed-out your credit card, do your best to pay down those high interest-rate expenses as soon as you can.
In fact, before you get too deep into the New Year, construct a priority list for those resolutions you made a couple of weeks ago. Include "debt consolidation" near the top. It's high time to consider converting your personal debts to home-mortgage debts via a refinance or home-equity loan, especially if there appears to be a long repayment road ahead and the interest rate on your home mortgage is greater than 6.5 percent.
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Previous columns:
- Take time to winterize before heading south, 01-02-2004
- An 'unbelievable' year for mortgage industry, 12-26-2003
- Tax court eases roof repair rule, 12-18-2003
- Home for the holidays: what will kids remember?, 12-11-2003
- When in doubt, just paint and move on, 12-04-2003
- Agents getting in place to serve senior market, 11-28-2003
- Some words are taboo in selling homes to, uh, seniors, 11-20-2003
- A lot of home sales mean a lot of Realtors, 11-13-2003