Article: MONEY MONDAY: Juggling debt; Paying off credit cards with home equity loans has pluses, minuses

When facing mounting credit card balances, taking out a home equity line of credit can sometimes allow borrowers to get back on solid financial ground while paying lower interest on their debt.

However, financial experts warn it is not the best option for everyone.

Transferring debt to a home equity loan, which typically has much lower interest rates than credit cards, can help consumers pay off their credit cards more easily, according to Bill Hardekopf, CEO of LowCards.com, a Web site that ranks credit cards and lets consumers compare various cards based on interest rates, annual fees and other criteria.

Depending on their credit status, the loans could let consumers borrow 75 to 85 ...

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