Originally posted by flashoflight
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Lawrence21 you would need to run the numbers. The interest rates are well over 6% and on a second mortgage (Home Equity Loan) combined with an active Chapter 13... could push the rate higher. Even with the closing costs, the additional 2.5 years in the Chapter 13 may be more economically sound.
If you have something strategic that's worth the chance of having a 7.4%-8.0%+ rate (today's average FHA rate) then I would still crunch the numbers.
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