Re: Taking out a Home Equity Loan to pay off debts

Strictly by the numbers, converting all debt to home equity
debt may or may not be a rational decision. First, what are
the amounts, interest rates and durations of all the loans
(current and proposed) involved here? Second, how much will
the fees be to convert the present loans to a home equity
loan? Third, what's your tax bracket? Fourth, can you easily
make all monthly payments now? Fifth, do you plan to be in
the home awhile?

Re: Taking out a Home Equity Loan to pay off debts

Hello, I want to thank both Bob and Elle for responding to my post. I'm
still reading the book and it does look like the author is a big
supporter of using insurance as source of income, so Bob you are
absolutely right. Also, I will take a closer look at the questions Elle
submitted and look at the pro's and con's of the author's
recommendations.

Thanks all,

joe