By refinancing you can borrow additional money on your mortgage so you can consolidate (combine) your debts into one simple payment. That way you can easily budget with a structured payment plan. When refinancing you can Use your home equity to reduce your credit card debt.
Are you held back by high-interest rate debt? Get debt-free sooner and immediately increase monthly cash-flow by consolidating all your debts into one lower interest rate!
Why pay high-interest rates on your bank's credit card debt when you can add that debt to your mortgage and pay a much lower interest rate! One important part of a strategy is knowing "good debt" from "bad debt". A well-planned mortgage can help you turn those bad debts into good debts and get them out of the way.
- Consolidate high-interest rate credit cards to one lower rate.
- Save money and increase cash flow.
- Reduce stress knowing that your financial situation is now manageable.
take out up to 80% of your home value. If you are breaking your contract early you will have to pay a penalty. You will also need to get an appraisal done to find out what your home value is. Most times we can offset all of these costs into the refinance as long as you have built enough equity in your home.
If you want to reduce your debt, contact us today to review your options and immediately start saving money.