The Advantage of Consolidating Debt
You’ve maxed out your line of credit with a $50,000.00 limit and an interest rate of 10%, your two credit cards with $10,000.00 limit each and an interest rate of 20% to build a basement that you can rent out for extra income. However, the income you generate from the basement is not coming quick enough to pay for the debt you have accumulated. Overall, you are paying too much interest and you would rather put the money towards something more meaningful. Debt Consolidation allows you to do just that!
You can pay off existing debts, student loans and any other personal loans by rolling the balance into your mortgage at a much lower rate. Permitting you have enough equity in your home, you now have the capability of putting your money more towards the principal amount of debt you owe compared to merely the interest.
Take advantage of your unique opportunity to reap the benefits of your home ownership when you need to and however you want to.