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Answered in 24 minutes by:
1/6/2007
jonacpa, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 3,118
Experience: Helpful answers to economic and financial questions.
VerifiedIn this situation it is NOT a good idea to take money from your 401k. A refinance of the house is worth considering. However, if the credit card debt is 0%, refinancing the house to pay off the credit card debt is going to increase your actual expense although it may temporarily increase your cash flow. My recommendation would be to try to pay down the credit card debt without refinancing the house as long as the cc remains at 0%. If it gets to a point where the cc's start accruing interest, then it would be a good idea to see about a refi to pay them off.
[email protected]jonacpa, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 3,118
Experience: Helpful answers to economic and financial questions.
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