Mortgage home re financing debt consolidating Online 1 to 1 flirt sex cam chat no credit card needed

by  |  13-Feb-2016 10:11

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Refinancing a mortgage in order to pay off debt is a common strategy.

Many homeowners use the equity in their homes to pay down other debts.

"We were property-rich and income-poor," says Jo Ann.

The couple had refinanced six years before, but when mortgage rates dropped to historic lows in May, they saw an opportunity to eliminate their credit card debt by refinancing their home and rolling $25,000 of credit card debt into the loan.

Consolidating the two into a new, 15-year mortgage at 4.5 percent costs more per month, but less over the life of the loan.

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