[Steve A]

...home equity loan (Refiance together)? In 2006 I purchased a home for $109,000, I took out a mortgage for $87,200 at 6.75% (30 years fixed) and a home equity for $10,700 at 8.74% (20 years fixed) and put down $10,000. I did this so I could avoid PMI which I did. But now I want to refinance since my rate is ridiculously high. Can I combine these two loans now, currently at $83,000 and $8100 = $91,100 combined? At my local credit union the rate they show is 5.185 % (at HSBC now). Gonna live here for at least 6 more years maybe more until my parents sell their home. Gonna talk to them but just wanted some insight before I went. To throw something else in I just won $12,000 and was thinking of just paying off the Equity loan but wasn't sure if I should invest it instead? Was gonna open a roth IRA for a retirement fund maybe with $3000 of it since I'm in my low 30's..

[Nazzareno]

No you had better not select yourself, but that doesn't mean that you must actually undergo with it once it has been decided upon

[Marie K]

Unless the IRA pays higher interest than you pay on the loan, pay off the loan.DO refi, esp if a CU. Lower interest rate VERY GOOD