[No Blue States]

It would be hard to beat my current mortgage interest rate
at 5.95%. Even the cash out equity loan we looked at they could not get the rate below 6.5%.

Then we looked into debt consolidation. they couldnt do anything for us that we could not do for ourselves by buckling down and getting tough on the debt.

On the bright side..we arent renting and our home is increasing in value. We bought our home 6 years ago for 91K. Weve payed it down to 81K while at the same time the value has risen to 113K.

So we have 32k home equity but cant really get to it because in TX they will only loan you 80%. Meanwhile we have 60k in our retirement plans that we cant touch! unggh!
We basically have $92,000 that we cant get access to pay 17k off. But then again, an easy way out might not teach us our lesson well enough.

[linda_22003]

"Meanwhile we have 60k in our retirement plans that we cant touch! unggh!"

And you should thank heaven for that. People raid their retirement plans too often now, and will not have what they need when they retire. Whatever your age, I sure hope that 60K does not represent your entire retirement savings.

[Beagle8U]

I understand what you're saying.

My original post was as much for FYI for everyone, as it was directed at you.

Many have never heard of and interest by-down.