@Sk323i wrote:Hello
About 8 years ago I had a 500 score with like 30K charged off debt.
now I'm in the 750 range
I rented out my started home - using a HELOC. I have 70K on that HELOC then I will only have 190K left on that loan and that home is worth 400K
i rent it out for 2x the mortgage payment so I maybe good profit which offsets the cost of my primary mortgage.
my new primary home is 650K mortgage - payment is super high because of PMI.
I am about to get a 25K bonus
i have 60K student debt - 0% right now but it will be 5% by September
i have 20K auto loan at 4%
i have 10K on credit card at 0% for next 12 months
I have 70K in the HELOC on my rental home. It's split into 2 fixed rate loans of 20K and 50K both close at 10% interest.
what should I do with the 25K bonus ?
pay off the 20K portion HELOC is what I'm leaning to.
then tackle student loans later this year.
then tackle auto loan next year.
then someday try to get PMI off my current home.
keep the rental property as long as possible.
The higest interest rate will be the credit card debt. Pay it off. Dont run it up again. Then take the rest and apply it to the next highest interest loan. We say finances over FICO here.
