Johnnie asked:


Should I refinance my mortgage, which will save me $400 per month by combining a costly 9.99% home equity loan with my primary, or use the $10000 I need to close to pay off my credit card debt (which would pay off all my credit cards)?
I’ve already been approved for the loan…I have good credit so that $10,000 in debt doesn’t kill my credit score which is still over 700.
The home equity loan is $35000 at 9.99%, my credit cards are not much higher than this so I am most anxious to get rid of this bad loan…Am I thinking about this the correct way?

TRACY