Top Reasons for Refinancing
Are you thinking of refinancing your mortgage? There are many things to consider before you do. Here are the top 5 reasons people refinance:
To consolidate debts
Assuming you have available equity in your home, it almost always makes sense to consolidate any and all high-interest consumer debts into one low interest rate and one low payment. Consolidating high-interest debt can instantly get you out of a hole and save you thousands in interest.
DEBTS YOU SHOULD CONSOLIDATE
(7 – 10%)
Unsecure line of credit
(7 – 12%)
(12 – 15%)
If your average interest rate is above 5%, GET OUT FAST! And roll that debt into your low interest mortgages.
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"− Karen C