DEBT CONSOLIDATION

About Debt Consolidation

One of the most common reasons to refinance is to consolidate debts. You can drastically reduce your overall monthly payments by consolidating various high-interest debts with your new mortgage. Along with reduced mortgage rates, this consolidation could save you thousands of dollars per year. Advantages to consolidating debt are:
  • Lowering your mortgage rates
  • Lowering your monthly payments
  • Reducing general sense of stress over financial issues
  • Simplifying your finances with fewer collections notices and easier bill paying
  • Lengthening your repayment terms (compared to term of previous debts)
  • Avoiding increased interest rates and late charges due to missed payments
  • Increasing cash flow by reducing total debt and lowering monthly payments