What is Mortgage Refinancing?
There are many reasons people refinance their mortgage but the most common ones are to save money on their monthly bill or over the life of their loan. That said, some people also take advantage of refinancing to shorten the length of their mortgage or to get some of their equity out of their home to cover other expenses.
Regardless of why you’re thinking about refinancing, it’s important to weigh all your options and come up with a strategy that makes sense for your personal financial goals.
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.