Best way to pay $80,000 credit card bill?  Steve
BucciQuestionDear Debt Adviser, I am considering refinancing my
mortgage. My plan is to take cash out in order to pay off my
credit card debt. I owe $80,000 on credit cards, which is
actually more than the $63,000 I owe on the house. Would this be
a well-advised move, in your opinion? I can very easily handle
the new monthly payment. With the savings from not making credit
card payments I can make additional payments on the mortgage
principal. My current mortgage has 11 years remaining, and the
new mortgage would be for 15 years. So in other words, I'd be
paying my house off in about the same time frame, anyway. I
appreciate your advice. -- Robert  AnswerDear Robert, Before I
answer your question, I must make a comment: $80,000 on your
credit cards?! Because I am the Debt Adviser, I can't help but
address your $80,000 in credit card debt first. That is a huge
amount of debt. Before you do anything, I want you to seriously
analyze how you acquired so much debt.