Is this a good time to get a Home Equity Loan?

I have an adjustable rate loan for my second mortgage, and I want to transfer that balance into a fixed loan with a lower interest rate - and 8-9% would be lower than my current rate. Is this the best way to go?

sounds like it. talk with an experienced loan officer so you can walk through your specific situation.

I would get a Home Equity Loan just a refinanced 2nd. Home Equity Loans interest rates tend to adjust quite a bit.

If you already owe the debt, and are not going deeper into debt on your home, it really doesn't matter. Other than the savings of your interest rate.

Transfering a loan has no (or very little) difference in effect.

After the first of the year I'm doing the exact same thing.

But in Michigan, I would not add any more debt to this house. Nothing is selling around here.

Rates are btwn 6 and 7% in my neighborhood.