BENEFITS OF CONSOLIDATING DEBT
If your home’s value is more than your mortgage balance, the equity in your home can often be used to pay off high-interest debt.Consolidating your debt can make sense when you want to (1) reduce monthly payments and improve the cash flow in your budget; (2) lower the amount you pay in interest each month; or (3) enjoy the convenience of a single payment instead of multiple ones.
A Cash-Out Refinance can be used to pay off credit cards, student loans, auto loans, medical bills, and other large debts, or even to consolidate mortgages.
If you currently have a second mortgage, you can potentially use the equity in your home to consolidate your mortgages into one and benefit from a:
Want to learn more about refinancing and debt consolidation? Contact one of our dedicated mortgage consultants at 888-546-2634 to discuss your financial goals and the best options for your unique situation.
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