Question by Customer: Keep 2nd Mortgage or transfer it to credit card?
I have a 2nd mortgage of approximately $ 3,400. The interest is almost 8% and I have approximately 16 years left to pay on it. I know I would lose the tax write off, but would it be wise to transfer to balance to a credit card with a lower rate. My goal is to have it paid off within 2 years. I’d like to refinance my 1st mortgage to a lower rate and cannot do so due to the stipulations of the 2nd mortgage.
Answer by Rob
3400$ and 18years to pay? nope sell some stuff ,
deliver pizzas or newspapers and have it paid in
moving it to credit cards does not change the
disease, the 5 less taxes will not help.
visit dave ramsey.com to learn from others
hard costly life lessons so u do not pay it.
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