[quote=harvey]- What’s the amount of your consumer debt?
– What’s the rate?
If the rates are high and a sizable portion of your “paycheck to paycheck” cash flow is interest, then #2 would make sense if you can get a substantially lower rate on the HELOC.
Only sell the house as a last resort. The low interest rate you have is something you want to keep for long time.
This, and the Tightwad Gazette.[/quote]
Bad idea shifting insecure debt to one that is backed by your primary home. If push comes to shove, one could probably negotiate a settlement with an insecure debt much easier with say a credit card company than one can with a HELOC these days, if it really came to that.