I’m 67, own two homes outright worth $2.8 million, but I have $19,000 in credit-card debt. Should I get a HELOC?
AI Summary
The individual, aged 67, faces a tough financial decision despite owning two homes valued at $2.8 million. The son's potential lymphoma diagnosis, possibly linked to military service, adds emotional and financial stress. Considering a Home Equity Line of Credit (HELOC) might offer necessary funds but risks tapping into substantial equity. This scenario highlights the complex balance between leveraging assets for immediate needs and preserving long-term financial security.
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