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Article: If debt's heavy, look at home equity loan
- Article from:
- Chicago Sun-Times
- Article date:
- December 2, 1990
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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The North Side couple has accumulated some odds and ends debt.
There are the credit cards and the personal loans and the second
mortgage.
Individually, the loans wouldn't be overwhelming. Trouble is,
taken together they add up to $33,000, and we haven't even brought up
the $7,000 auto loan. That's a total of $40,000, to say nothing
about the first mortgage.
The couple, Ed and Martha Howard, wrote to One Family's Finances
promising they had just sworn off "the plastic," noting that Ed had
just gotten a hefty raise on his salesman's job. They asked if it
would be wise to get a home equity loan to consolidate all their
debts.
Steve Weinstein, a partner in the personal financial planning ...