Buying another home with a HELOC of $170K is a bit risky. If you are doing this for investment purposes, be sure you can cover your new mortgage / taxes / monthly maintenance. That said, consolidating your credit card debt is a good idea ONLY if you are willing to cut up all of your credit cards and never use them again. Learn to pay cash before you leverage yourself with debt through owning 2 homes, a HELOC, and credit cards.