Need help consolidating my debt

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Important Terminology A cash-out refinance can reduce your monthly payments, change your rate from variable to fixed, or change the term of your loan.

For some a home equity loan is a better choice because it usually offers a fixed interest rate.

And finally you may wish to consolidate non-mortgage debt in a second mortgage.

Defaulting on your mortgages can lead to foreclosure and losing your home.

Non-mortgage debt would be credit cards, medical bills, student loans, auto loans, other consolidation loans, and personal loans.

A cash-out refinance is a typical mortgage refinance method that can reduce your monthly payments, change your rate from variable to fixed, or change the term of your loan.

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