Refinancing old Heloc out of personal name.
Hello!
So my wife and I have a Heloc that came from our old house in Austin. We have since purchased another personal home, (and actually have a heloc on that as well.)
I am in a place now where we are trying to keep all debt in the business and out of our personal names for the sake of our credit.
What are some ways to get this debt either transferred over, or maybe refinanced? It'd be awesome if we could balance transfer to the business some how and then have that line of credit available again! Refinancing this In our personal name is an option too if we could get a better rate. We're currently in an interest only payment situation fluctuating between 9-11 for the next 7 years before it goes principal. It'd be nice to see it go down!
What would you do in our situation?
Thanks!