High-interest debt from credit cards or loans can make it hard to manage your finances. But if you’re a homeowner, you can take advantage of your home’s equity. Combine the money you owe into a debt consolidation mortgage, home equity loan or line of credit.
What’s debt consolidation?
Debt consolidation is debt financing that combines 2 or more loans into one. A debt consolidation mortgage is a long-term loan that gives you the funds to pay off several debts at the same time. Once your other debts are paid off, it leaves you with just one loan to pay, rather than several.
To consolidate your debt, we establish a new mortgage for the total amount you owe. Consolidation is particularly useful for high-interest loans, such as credit cards.
Increase cash flow
Using a mortgage to pay off high interest debts such as loans and credit cards will most likely increase your cash flow. Mortgages can be amortized up to 30 years and the debit being consolidated will result in much lower payments. Talk to one of our experts to determine if debt consolidation is right for you.
High-interest debt from credit cards or loans can make it hard to manage your finances. But if you’re a homeowner, you can take advantage of your home’s equity. Combine the money you owe into a debt consolidation mortgage, home equity loan or line of credit.