Is refinancing a means to debt reduction?
Borrowing against your assets is the easiest, fastest and most common way to raise the cash you need to pay your debts. Second mortgages, home equity loans, and refinancing your home mortgage, are other possibilities. Banks routinely issue second mortgages. They also refinance or arrange home equity loans.A home is the best collateral to use to secure a loan at lower interest rates compared to rates typically charged by credit card companies and other high-interest lenders. The equity in your home can, in some cases, substantially lower your monthly payments on excess obligations. If you bought your home some years ago, the chances are good that you have equity in your home to borrow against.The ability to get your specific refinancing questions answered during a free half-hour telephone consultation is an advantage to being a Member.
