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Old 09-03-2010, 07:48 PM
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Default Should I pay mortgage to rid PMI or credit

card debt? This is for US answerers only okay?I have a new 10% down mortgage and pay $165/mo in PMI (private mortgage insurance). I have $10000 debt on a credit card at about 7.5% interest. We use this card for every day purchases and usually pay it off each month, but had to assume some debt to stay liquid for the purchase of this home.Should my priority be to pay down mortgage asap to build up equity or pay down credit card debt? I enough on hand to pay off credit card completely. But not enough to reach 20% equity. (would need another 19K, an amount we could reach in a year or so with extra payments)Should we stop using the card for everyday purchases? or keep using card and diverting that cash to pay down mortgage?Thanks in advance
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