Mortgage Debt Consolidation Loan

A mortgage debt consolidation loan may be a solution to your high interest debts. Credit Card debt is most likely what borrowers will choose to consolidate first since interest rates and monthly payments are so high. By performing a cash-out refinance of a first or second mortgage you can consolidate your non-mortgage debt, mortgage debt, or both. Mortgage debt includes first mortgages and second mortgages such as a home equity line of credit or home equity loans. Non-mortgage debt would be credit cards, medical bills, student loans, auto loans, other consolidation loans, and personal loans. A cash-out refinance is a typical mortgage refinance method that can reduce your monthly payments, change your rate from variable to fixed, or change the term of your loan.