Exploring HELOC Options for Homeowners with High Credit Card Debt - PRESS AI WORLD
PRESSAI
All categories
Recent Posts
side-post-image
UN Reports Damage to Chornobyl Protective Shield Attributed to Drone Strike
user-iconGloria Terra
side-post-image
US and Ukraine Continue Peace Talks, Stress Importance of Russia's Commitment
user-iconGloria Terra
Contact Phone:
Economy

Exploring HELOC Options for Homeowners with High Credit Card Debt

share-iconPublished: Thursday, January 09 share-iconUpdated: Thursday, January 09 comment-icon10 months ago
News sources:
CBSNEWS
Exploring HELOC Options for Homeowners with High Credit Card Debt

Credited from: CBSNEWS

  • The current average homeowner holds about **$320,000** in home equity, making it an opportune time to consider a **HELOC** as a solution for credit card debt.
  • **HELOC rates** average **8.36%**, which is substantially lower than the **23% average credit card rate**, potentially leading to significant interest savings.
  • While it is **possible** to secure a HELOC with high credit card debt, factors like **debt-to-income (DTI) ratio** and **credit score** are crucial for qualification.
  • Some lenders might accommodate higher DTI ratios if the borrower maintains **substantial home equity** and has a solid credit history.
  • Improving your **credit score** and shopping around for competitive rates can enhance your chances of securing a favorable HELOC.

For more details, read the full article [here](https://www.cbsnews.com/news/can-you-take-out-a-heloc-with-high-credit-card-debt/).

SHARE THIS ARTICLE:

TAGS:

Heloc Home equity Credit card debt Borrowing Financial advice
author-dp

Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

nav-post-picture
date-iconJanuary 09, 2025 Meta's Mark Zuckerberg Undermines Truth in Social Media Landscape
date-iconJanuary 09, 2025 Billionaire Rick Caruso Critiques L.A. Fire Response, Calling for Better Preparedness
nav-post-picture
Related Posts
main-post-image
ECONOMY
Navigating Home Equity Loans: Key Insights for 2025 Borrowers Amid Economic Changes
date-iconJan 22, 2025
main-post-image
ECONOMY
Strategies for Managing Credit Card Debt During Unemployment and Identifying Uncollectible Debt
date-iconJan 22, 2025
main-post-image
WORLD NEWS
Understanding Your Rights: Disputing Debt and Responding to Lawsuits from Collectors
date-iconJan 17, 2025
main-post-image
ECONOMY
Maximizing Returns: A Guide to Long-Term Certificates of Deposit (CDs) in 2025
date-iconJan 16, 2025
main-post-image
ECONOMY
Effective Strategies for Managing Credit Card Debt: Forgiveness and Consolidation Tips
date-iconJan 15, 2025
main-post-image
WORLD NEWS
Witkoff and Kushner Set for Key Talks with Putin on Ukraine Peace Plan
date-iconDec 02, 2025

Stay Connected

main-post-image
World News
Inquiry Reveals UK Special Forces Allegedly Covered Up War Crimes in Afghanistan
date-icon December 01, 2025
main-post-image
Politics
US Suspends Visa Issuance for Afghan Passport Holders Following Deadly Shooting Incident
date-icon November 30, 2025
main-post-image
World News
Pope Leo XIV Calls for Peace and Reconciliation During Historic Visit to Lebanon
date-icon December 01, 2025
main-post-image
Economy
Israeli Drone Strike Kills Two Children in Gaza Amid Continuing Violence
date-icon November 30, 2025

Tags

Stay informed effortlessly with PRESS AI WORLD, the AI-powered news summarizer that delivers concise, easy-to-read global headlines tailored to your interests.

Categories

Recent Posts

side-post-image
UN Reports Damage to Chornobyl Protective Shield Attributed to Drone Strike
user-iconGloria Terra
side-post-image
US and Ukraine Continue Peace Talks, Stress Importance of Russia's Commitment
user-iconGloria Terra
© 2025 All rights reserved | PRESS AI WORLD