How to Avoid Paying Excess Interest on a Home Equity Loan

Jean: My husband 66, he has a pension that he can start drawing on in the next couple of months. He's got about 150,000 in the optional retirement account. Would it make sense to use his optional retirement funds and apply it to the loan? Jean: No. Even though he can do it since he's retired, it will be totally taxable. So no, just leave that $150,000 there and whatever money you have that you can put towards that he'll absolutely do it.