Hi Mentors, I am hoping for some guidance.
I have found that I am getting lost in the credit card "shell" game, moving around balances to keep them at teaser rates trying to avoid transfer fees when possible. My balances never seem to go away though. Coupled with that are rising rates affecting my adjustable rate HELOC. I refinanced about a year and a half ago and did an 80/20 Fixed and HELOC. My questions are:
1} Should I refinance my HELOC into a fixed rate 2nd mortgage to stop rates from rising?
2} Can I get that 2nd mortgage to include my credit card debt and car loan? (note I will be within 125% of my home's value)
3} If I am able to do #2 will all of my interest be tax deductible?
The Shell Game Guy :-)