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Pay your Credit Card Debt With a Home Equity Line of Credit

The No. 1 tax strategy missed by consumers every year could save you hundreds of dollars and provide a perfect tax deduction.

All you have to do is pay your credit card debt with... a home equity line of credit.

Interest on a credit card is easily three times what you would pay on a home equity line and the interest is never tax deductible.

Rolling that debt to a home equity line allows you to pay it off at a much lower interest rate (usually 4 percent or less) and write off the interest.

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