Why pay high interest rates on your credit cards when using your mortgage for debt relief may be an option?
If you have enough equity in your home, using your mortgage for debt relief may be a smart decision for you. Using your equity for debt consolidation is a preferred option since you can merge a number of debts into one loan where:
• Mortgage interest rates are usually much lower than other loan interest rates, and
• Mortgages can be amortized over many years, meaning you can arrange much lower monthly payments than with any other type of loan
What are your options for using your mortgage for debt relief?
If you have available equity in your home, you can inquire about:
• A home equity line of credit
• Refinancing your current mortgage to access your equity
Ask a qualified mortgage specialist how you can use your mortgage for debt relief so you can start with a clean slate and only one outstanding loan to worry about.
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If you are drowning in debt using your mortgage for debt
relief is a good option for you! Mortgage lenders can provide you with
information about debt consolidation programs that give borrowers a chance to
reorganize their finances using the equity they have in their home. Using your
mortgage for debt relief has several advantages.
Save Money by Using Your Mortgage for
Debt Relief
If you have equity available in your home, there is a better
solution available to you than paying the high credit card interest rates. If
you choose to consolidate your debts into a home equity mortgage loan, you will
likely pay less interest since the interest rates on a secured home equity loan
are lower than credit card rates. Using your mortgage for debt relief can save
a homeowner thousands of dollars over the life of the loan.
Remove Stress by Using Your Mortgage
for Debt Relief
Paying off multiple debts per month with a high interest
rate is very stressful. By using your mortgage for debt relief, you will have a
single monthly payment with a lower interest rate. This is likely to ease your
financial burden substantially, thereby reducing stress levels.
Improve Your Credit Score by Using
Your Mortgage for Debt Relief
By lowering your monthly payments and consolidating multiple
debts into one, you are more likely to make your payments, thus improving your
credit score over time.
The goal of using your mortgage for debt relief is to help
you get the money you need to simplify your life, and most importantly to
reduce your debts.