Consolidating Debt

When it comes to refinancing your home, this option could be one of the most important. Not only will you be paying off debt, you will also be able to take advantage of lower interest rates than most credit cards.
Depending on how much equity you have in your house will determine the amount of cash out you can have.

Take for example: The balance of your current mortgage is $100,000. You have an appraisal done and the value of your house is $180,000. So, lets say that you want to pay off some credit cards, and possibly remodel a room in your house. You decide on about $40,000 cash to take care of it. Once you refinance, you get your money.

It's that simple.

Click on the Interest Only link on the left side to learn more about paying down your principle sometimes twice as fast, or paying off debt. Paying your principle down that fast is like making a short term loan to yourself and not feel the pressure of creditors.

Interest Only rates are based on the LIBOR Index. Rate are varied from around 3% and up, depending on the program.

You will learn what the banks have known for years and kept secret.