Credit Card Debt Solutions for Homeowners

The minimum payment on your credit cards barely covers the interest. You're juggling multiple cards, watching balances creep up instead of down. But you own a home—and that changes everything. Here's how homeowners can use their position to break free from the high-interest debt cycle.

The Credit Card Debt Trap

The math of credit card debt is brutal:

Example: $20,000 credit card balance at 21% interest

• Minimum payment (3%): $600
• Interest portion: ~$350
• Principal reduction: ~$250
• Time to pay off making minimums: 25+ years
• Total interest paid: $30,000+