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ilove747s · January 17th, 2008, 00:58

Questions for ya. You're in California right? Do you happen to own a house that may have some equity in it?

Do this equation:

Estimated Value times 80% (it's 80% on homestead in texas you may have to check for california) subtract what you owe and this will give you your equity that you can use. Sometimes that may have to be less than half the value of your house just depending on what kind of HE option you go for. Rates are pretty decent right now.

My advise would be to develop a solid financial plan that figures out when you can have the debt paid off, provides you with at least 3 months of emergency funds, and your goals for retirement.

As a banker I don't have any other ideas. Hope that helps!

January 17th, 2008, 00:58	#8
ilove747s Junior Member Join Date: Dec 2006 Location: Austin Posts: 51	Re: Advice on Student Loans Please? Questions for ya. You're in California right? Do you happen to own a house that may have some equity in it? Do this equation: Estimated Value times 80% (it's 80% on homestead in texas you may have to check for california) subtract what you owe and this will give you your equity that you can use. Sometimes that may have to be less than half the value of your house just depending on what kind of HE option you go for. Rates are pretty decent right now. My advise would be to develop a solid financial plan that figures out when you can have the debt paid off, provides you with at least 3 months of emergency funds, and your goals for retirement. As a banker I don't have any other ideas. Hope that helps!