@Revelate wrote:
Will say though that the easiest way to go sort the DTI issue would be to put you on the mortgage too, but I can understand the reasons for potentially not doing that intellectually anyway. Doubt if I ever did get married that her name goes on the condo for example, though almost certainly would in whatever place we moved to. All the compromises that make relationships work haha.
We live in Kansas. Both names are on the deed of the house... only SHE has a mortgage. 
It's more about creative financing than it is a his/hers thing.
... and thank you!
@kilroy8 wrote:Between the 2 of you, that's 70K in unsecured debt. Even considering only your 19K, I think you are going to tap out soon on what places are willing to extend.
I have no experience or ideas on how to handle that. I do sympathize, as the payments have to be murder.
Just to chime in on this, I discovered this forum because DW and I were carrying twice that with an average interest rate of around 20%. We carried that for nearly a decade throwing away thousands of dollars in interest alone every month. With an aged, large, always-on-time file, having enough income to support paying it down, and being able to play the FICO score game to keep the percentages in check, lenders will extend credit. @tcbofade is like my brother from another mother tackling the balance transfer shuffle in 2-player mode. 
So the strategy seems okay to me, except that I wonder about the 11% personal loan. You didn't mention how many months that was over, so I would run the numbers to figure out how much interest you would pay over time on that vs shifting it every 12 months from one 3% fee 0% BT card to another. If the difference is negligible I'd go with the loan.
I wish it was a requirement to have your cards listed on this forum so I could make suggestions on cards. 
Do you already have BankAmericard, EveryDay, and Slate, all of which have a $0 and 0% introductory BT offer? Which CUs are you already with?
Finally, is your existing mortgage really high now? Somehow I don't see mortgage rates doing anything but continuing to climb and climb at this point. So if you already have a decent rate, that part of the plan may not pan out.
@K-in-Boston wrote:
@kilroy8 wrote:Between the 2 of you, that's 70K in unsecured debt. Even considering only your 19K, I think you are going to tap out soon on what places are willing to extend.
I have no experience or ideas on how to handle that. I do sympathize, as the payments have to be murder.
Just to chime in on this, I discovered this forum because DW and I were carrying twice that with an average interest rate of around 20%. We carried that for nearly a decade throwing away thousands of dollars in interest alone every month. With an aged, large, always-on-time file, having enough income to support paying it down, and being able to play the FICO score game to keep the percentages in check, lenders will extend credit. @tcbofade is like my brother from another mother tackling the balance transfer shuffle in 2-player mode.
Your Mama!
So the strategy seems okay to me, except that I wonder about the 11% personal loan. You didn't mention how many months that was over, so I would run the numbers to figure out how much interest you would pay over time on that vs shifting it every 12 months from one 3% fee 0% BT card to another. If the difference is negligible I'd go with the loan.
I wish it was a requirement to have your cards listed on this forum so I could make suggestions on cards.
Finally, is your existing mortgage really high now? Somehow I don't see mortgage rates doing anything but continuing to climb and climb at this point. So if you already have a decent rate, that part of the plan may not pan out.
One issue is that I don't have the income that you do.
Still talking with CU about term... could be 48, could be 60.
We both have Slate, I JUST got the Everyday, and BankofAmerica is not an option... we don't like them, they don't like us.
We've got Mainstreet, Community America, Navy, and PenFed.
Current first mortgage is at 4.5. Current second mortgage is at 10. If mortgage rates stay under 6.5 for another 13 months or so, it would be a win.
We shall see...
@K-in-Boston wrote:
@kilroy8 wrote:Between the 2 of you, that's 70K in unsecured debt. Even considering only your 19K, I think you are going to tap out soon on what places are willing to extend.
I have no experience or ideas on how to handle that. I do sympathize, as the payments have to be murder.
So the strategy seems okay to me, except that I wonder about the 11% personal loan. You didn't mention how many months that was over, so I would run the numbers to figure out how much interest you would pay over time on that vs shifting it every 12 months from one 3% fee 0% BT card to another. If the difference is negligible I'd go with the loan.
Good call. Thank you, sir.
See approval forum.