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Updated about 2 years ago,

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Timothy Carr
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What to do with 142k variable rate heloc

Timothy Carr
Posted

Family of 3 married in the military. 1 rental property in nh values at between 160-180k depending on the day. Brings in 2k rent per month. Every qtr about 1200 in taxes. This is what I have the heloc on. New house being built set to be done beginning of March. Money is tight with wife not working due to son having major health problems. (Luckily tri care covers it all). I really want to open up a better money stream to take the burden off us. But it is tough. Houses aren't really out there in the 140k mark. And I won't have much time this year due to travel and training for the Marines. Id need something that would be able to pay at a minimum the interest on the heloc immediately due to tight budgeta. Just need some advice here to get my wheels turning for some steps forward. Let me know your thoughts. Thank you!

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