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The Benefits of Debt Consolidation Refinance – New Florida Mortgage

The average amount of non-mortgage. New Hampshire, Utah, Idaho, and even Florida (Parts of the state are still cheap for retirees.) So far, we‘ve discussed reducing credit card payments, but much.

Mortgage Newsletter. Discover your potential monthly savings by combining your bills into a single source. Eliminate high interest rate credit card and installment loans with a tax deductible (consult your tax advisor) consolidation loan. Use our calculator to figure how long before your savings equal the cost of obtaining a new consolidation loan.

The proprietary loans are jumbo reverse mortgages, with loan amounts up to $2.25 million. Like HECMs, these new. mortgage can help homeowners pay down their existing mortgage and free up cash each.

When you refinance, your new lender pays off your old mortgage and replaces it with a new mortgage. Most people refinance to reduce their monthly payment, but some refinance from a 30-year to a 15-year mortgage term if they want to knock out their mortgage debt more quickly. Refinancing is not the same as a second mortgage.

To get a good deal on a refinance, consumers need to do their research, shop around for a lender and ask questions before committing to a new mortgage. Here are some basic options available now: A 15-year refinance loan. If you already have paid off a good portion of your current mortgage, a 15-year refinance may be a good option.

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If the homeowner’s credit score has gotten better because mortgage payments have been made on time, the homeowner may be able to take advantage of that improved credit by refinancing into a loan with lower interest rates decreased payments. Debt consolidation that will help the credit score is another great reason for cash-out refinancing. The homeowner can use the money from a cash-out refinance to pay off other bills such as credit cards.

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Benefits of Refinancing Your Mortgage to Consolidate Debt If you choose to refinance your existing mortgage to consolidate your debt, you may benefit in more ways than one: Use the "cash out" option to pay off high-interest debt such as credit cards, student loans, auto loans, and more.

Take Advantage of being debt free, keep in mind high interest debt isn’t tax deductible like a mortgage. Top rated Mortgage Brokers are standing by to analyze your credit and show you the benefits of refinancing high interest debt into one low rate payment. connect with a Top Rated Mortgage Broker now (888)951-2929.