I am amazingly fortunate to be in this scenario. And I totally understand. I did the old regarded out of college thing to the point where I just ignored everything for the 5-7 years for it to drop off before building my credit back up. So I know the feels. I could be looking at a horrible debt consolidation situation or even bankruptcy if it wasn't for the real taste situation.CC debt is crushing. It’s almost insurmountable in a lot of cases. I’ve had it happen 2x. Once when I was just out of college and acting regarded (it wasn’t even that much). And once as an adult while going through a divorce and just after moving across country to start over my referral based business in a brand new area where I didn’t know anyone.
You are incredibly fortunate that it happened when house values have skyrocketed, and even have an opportunity to pay it off like this. Can you imagine if house value increased 5% instead of 50%? You should be counting your lucky stars and rushing to get this done ASAP. I’m curious to see what your rate and fee quote comes back to look like in this scenario.
I would not be against sharing my rate sheets and credit reports with you via PM. I will still be going with my Mortgage guy as he is a friend and all of the family have used him and such. But I respect your opinions and have learned a bit just from this thread. This is only my 3rd piece of real estate. I was a renter for way to long in my life. Didn't buy my first house until 35ish after spending crazy stupid amounts on rents. I was one of those that was resigned to never be married or have a family so I indulged way more than I should have. Single guy in his 20's and 30's, nice townhome, timeshsare, multiple cars, spending thousands on bares and restaurants monthly, lavish vacations, etc.... . I just didn't care. Now it is a completely different situation.