Home equity loan for credit card debt?

Hi-- It's amazing how quickly you can go from livin' phat to flat broke. My husband and I have $60,000 in home equity mostly from a very large down payment about 6 months ago. And now are about $15,000 in the hole with credit cards at about 10%. I think taking out a home equity loan (we are 6% on that... show more Hi--
It's amazing how quickly you can go from livin' phat to flat broke.
My husband and I have $60,000 in home equity mostly from a very large down payment about 6 months ago. And now are about $15,000 in the hole with credit cards at about 10%.
I think taking out a home equity loan (we are 6% on that one) is a good idea, but don't know that much about it. Will it damage credit ratings, etc?
We can pay the bills just fine but don't like the fact that amex owns our azzes.
Any advice greatly appreciated. Thanks!!
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