03-11-2016, 11:57 AM
|
|
|
Confirmed User
Industry Role:
Join Date: Aug 2002
Location: The Valley o' Smut.
Posts: 3,281
|
Quote:
Originally Posted by Sly
$43k home equity loan should be around $300-400 monthly. Most likely much lower than what he was paying before for that and the car.
Paying off the car was an okay idea, paying off the house not so much. He most likely had a great interest rate and a nice tax deduction.
His biggest mistake was not consulting an accountant.
|
Exactly correct. |
|
|