The average American has over $16,000 in credit card debt. With high-interest debt like this, it can be difficult to achieve your financial goals such as saving for retirement. After all, the mounting interest payments can be crippling to any budget.
If you have debt, you are probably thinking about how you can pay off as quickly as possible. That is the right attitude, and that means you are getting on the right track. However, in almost every case, using home equity to pay debt is not a good idea.
Let’s take a closer look at HELOCs, the implications of using them and explore other ways to pay down your debt.
Osterland McCarthy began his own real estate development company Osterland with his friend. In this capacity, he bought and rehabbed investment properties for their own portfolio. Over the last few years, Osterland has developed hundreds of properties in the two cities. He started to help investors who want to own investment properties but want to rely on our experience to execute successful projects.