Is it a good idea to take out a small home equity loan to pay off credit cards?

10000$ to consolidate 7000 in debt, the going interest rate is 7.5 % we are currently paying between 13%-23% on the cards
Update: the remaining three thousand will go torward minor home improvements & maintanenece (new paint, gardening supplies etc) We are currently living on one income, i will return to work when my toddler goes to school in 2 yrs. My minimum payments on three cards all tolled is 250$ per month while the home equity loan is... show more the remaining three thousand will go torward minor home improvements & maintanenece (new paint, gardening supplies etc) We are currently living on one income, i will return to work when my toddler goes to school in 2 yrs. My minimum payments on three cards all tolled is 250$ per month while the home equity loan is 65$ per month & that is principle & interest
Update 2: my fico score (experian) is 704. I dont know my median score, as i get a free credit analysis with my WAMU visa but i get experian only...
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