Don’t borrow against your house

Everything I’ve read is why make secure debt out of un-secured debt? Why increase debt with more house? The whole idea is to get out of debt including the mortgage, live below your means. Save 10% of you salary, pay the necessities, then pay the debt until your out. Period. Cut up the credit cards and live on cash.

Its amazing how much they (the banks) will give you, that is not a measurement of if you are okay financially. Do not get a 2nd mortgage, do not sell your house unless it is to get a smaller/ cheaper house. You can’t borrow your way out of debt. I know this because I’ve tried, and it hasn’t worked thus far for me.

This has been the most painful journey of my life, thus far, and I refuse to give up, and I will over come this monster of debt I have and never find myself in this position again. There are a lot of good books out there to help you, I have been a sponge for info for 2 months. It has been a eye opener for me. I think you joined the same time I did. What have you found out to win this game?

Please advise

We are either thinking to get a home equity loan out on our current home to eliminate some credit card bills.. or selling the current home, then using the equity in it as a down payment for a new more expensive home then getting a home equity loan on the new house to eliminate our debt..

any feedback would be appreciated. thanks!

p,s, we live in south Florida and there is a huge market boom going on here, so trying to stay ahead so that bubble doesn’t burst and our finances go sour..