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    3. I plan to purchase a vacation home in several months should I pay off $15,000 in credit card debt or use it for a down payment? I owe about $15,000.00 on my 1st mortgage.
    I plan to purchase a vacation home in several months should I pay off $15,000 in credit card debt or use it for a down payment? I owe about $15,000.00 on my 1st mortgage.

    this will be my retirement home in several years, I will have no other debt if I pay off the cards.

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    0  Views: 145 Answers: 2 Posted: 14 years ago
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      2 Answers

      You may even enjoy it more because you had to WAIT to purchase it.

      14 years ago. Rating: 1
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        frosty23

        I do have other savings and my home is worth $350,000.00. You are right thought I am paying alot in interest. i just I would have less of a morgage using the $ as a down payment. Thanks
        commented 14 years ago

        Yikes!!!   $30,000.00 in debt and you want to go even further into debt????  Why?  Have you ever calculated how much additional money you are paying out in the form of INTEREST?  Pay everything off and then SAVE for a vacation home. 

        14 years ago. Rating: 0
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