Resolved Question: When IS consolidating a good idea? Or is it better it get a home equity loan to pay-off your debt?

I have a house with approx. $100,000 in equity and rental income that's covering the mortgage payment + management fee. The mortgage is at a fixed 5.375%, fully paid in 10yrs.

I've been thinking about refinancing to get cash out in the hopes that I can make more aggressive returns with the money, instead of having it buried in a very slowly appreciating house. Based on loans I've investigated, I can only get about 40-45K in cash out and keep monthly payments low enough to remain covered by the tenant (buying points + closing costs will suck 4-6K out of the equity, too).

This would be an easier decision if I could get the same interest rate without buying points of course! I suppose for better advice I should disclose my general situation, too: I'm young, have a relatively stable job, 6mos expenses saved, and max out my 401K. I'm thinking that now's the best time to invest in higher risk/yield instruments.

Resolved Question: If I get a home equity loan over 100000 on my home &buy a condo outside the US is the interest tax deductible

I will be buying a condo in Panama as a second residence with the money from the home equity loan on my primary residence in the US. I'm concerned about the interest on a loan over 100,000 dollars A home equity loan 100,000 and below I know would be tax deductible

Resolved Question: When IS consolidating a good idea? Or is it better it get a home equity loan to pay-off your debt?

The thing is, I have good credit and I can currently afford my bills. It just I got married 2 yrs. ago and already had this debt built up i would like to clear my slate...and besides that I owe a lot..btn Credit Cards and Student Loans..woooooo

Technorati Tags: equity loan, Resolved, Question, When, consolidating, good, idea, better, get, home, equity, loan, pay, off, your, debt