My husband and I have a whopping HECS debt- nearly $100k between the two of us. We are looking at a mortgage of $300k less than the value of our home.
So, should we consolidate our HECS debt into the mortgage?
Consolidating HECS debt into mortgage?
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Consolidating HECS debt into mortgage?
by barnie » Sat Jul 03, 2010 4:52 pm
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Re: Consolidating HECS debt into mortgage?
by critique » Wed Aug 18, 2010 6:21 pm
Consider what the repayments/interest rate on your mortgage are and what interest you are paying on HECS. Your mortgage interest rate is much higher.
Furthermore, if you loose your job or simply can't work because of illness or injury, you don't have to pay the HECS if your income falls below a certain threshhold.
Your bank will always want you to repay them. For more information contact me at blog@critique.net.au
Furthermore, if you loose your job or simply can't work because of illness or injury, you don't have to pay the HECS if your income falls below a certain threshhold.
Your bank will always want you to repay them. For more information contact me at blog@critique.net.au
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