The banks intent us to consolidated all my bad debt 55k against the interest only loan. Which will leave me enough equity to buy a IP.
Would this be the best course of action?
Hey guys here's the situation.
$113,000 in equity
Loan and credit debt of $55,000
Obviously want IP's
Should I get rid of all my debt ($55,000) first or can you suggest an alternate plan that allows everything to happen at once