Some people find it difficult, and even overwhelming, when they have high-interest debt. However, there are options for homeowners who want to combine the balances you owe into one consolidation mortgage or home equity line.
EXPLANATION OF DEBT CONSOLIDATION
Debt consolidation can merge your multiple loans into one single debt. The term of a debt consolidation mortgage is longer with a low-interest rate that helps you pay off various debts at once.
When you choose to consolidate your debt, we form a new mortgage for your total amount owed. Debt consolidation is helpful for high-interest loans, such as credit cards.
INCREASED CASH FLOW
A mortgage can be a great way to pay off high-interest debts such as loans and credit cards. You can utilize mortgages for up to 30 years, which means you’ll make lower monthly payments. Also, it provides more cash flow in the long run! Consult one of our experts to decide if consolidating your debt is the right choice.
REQUIRED DOCUMENTS FOR YOUR MORTGAGE
Current employment status and income amount as: