Daily Market Updates: HELOC question surfaces as borrower weighs debt and home equity

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HELOC question surfaces as borrower weighs debt and home equity

The scenario involves $19,000 in credit-card debt alongside two mortgage-free homes valued at $2.8 million.

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A MarketWatch reader describing life with two mortgage-free homes valued at $2.8 million says they also carry $19,000 in credit-card debt and is considering whether a home equity line of credit, or HELOC, is the right move.

The reader also notes their son was recently diagnosed with lymphoma, and they link the illness to burn-pit exposure during the son’s military service in Afghanistan.

MarketWatch frames the decision as a personal finance trade-off between using available home equity and managing relatively unsecured credit-card balances.

In the inquiry, the reader asks whether tapping a HELOC could help address the credit-card debt given their assets and obligations.

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MarketWatchI’m 67, own two mortgage-free homes worth $2.8 million, but I have $19,000 in credit-card debt. Should I get a HELOC?

Real Estate

HELOC question surfaces as borrower weighs debt and home equity

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