Consolidating consumer credit card debt
Your best choice will depend on whether the new interest rate will save sufficient money to warrant doing a full cash-out mortgage refinance.If not, you can consolidate your debt by taking out a HEL.Instead of making payment directly to your creditor, the DMP company will collect your money and pay off the creditors at a negotiated rate.
Only by weighing the pros and cons of each solution, can you know the best option for your situation.
With so much debt and different types of debt, it can be very confusing to find a debt consolidation tactic that fits your financial situation.
Did you know that more than 50% of the US household have credit card debt?
For example, instead of renting did you buy a home?
Your home mortgage loan is a great way to build equity and live in a home of your own.