Question : How do I get out of my home equity line of credit if interest rates go up.?
A couple of years ago I tapped into the equity of my home to the tune of 30,000. Rates remain ok, as they are a couple of points above prime, but i feel as if I am sitting on a time bomb. I am not in the best position to refinanace the house because of the decreased value. How can I transfer that debt to something with a locked interest rate while i pay it down?
home equity line of credit rates

Best answer:

Answer by idishka
Have you ever thought of a personal loan? that would be locked in and you could just pay off the 30k. Its just might be an idea so don’t jump into it. I would suggest to find a mortgage licensed person to help you out. And if I were you don’t ask the bank cause most of the time there not there to help you!