Refinancing a home & Debt?
 

Need to refinance to get a name off the mortgage and had a question about debt. Would it be better to pay off and close out my credit cards? Wait to pay it off until after refinancing? Leave some balance on the credit cards? Just trying to figure out what would give the best chance at refinancing? Thanks.

I would call USAA or walk into any bank and ask them. They won't fault you for asking an honest question. They'll plug the numbers into their computer and give you the answer right there. At least they should.

I highly recommend Dave Ramsey Homepage - daveramsey.com or www.mytotalmoneymakeover.com for advice on financial issues.

Stallog

That's our plan today, just wasn't sure if they would give us a straight answer.

I have read a book of his and like his stuff. His plan helped me get on a clear path during pilot training (first time I made enough money to even worry about it...haha). He does good stuff for the military as well, seems like a good dude.

Paying off high interest debt is never a bad plan. Leave one account open (cut up the card), which usually helps your credit score. Or, as Ramsey says, pay cash for everything, 100% down.

Right! Pay off the high interest rate debt. Keep the accounts open but dont use them. You will be amazed at how the CCC will raise your limits and try to entice you to use there money. Your score will credit score will rise also.

Square away your balance sheet and now is the time to refinace. Good luck.

If you then end up with spare capital, I couldnt recommend these guys highly enough. Nussbaumer Pearce Capital - Home