Consolidate Non-Mortgage Debt in Second - means that you consolidate your existing non-mortgage debt by doing a cash-out refinance on your second mortgage, leaving your first mortgage as it is.
People talk all day long about their workouts, favorite apps, and their love lives, but bring up the subject of money, especially credit card debt, and suddenly everyone clams up.Pay off those higher-interest debts with cash from refinancing to a lower rate.We can help you lower your monthly payment and pay off your higher-interest debt. Vantage Mortgage Group can advise you on which mortgage refinancing program best meets your needs, and help you refinance quickly and without hassle. “Most people do not like to pull into a parking lot to go and stand in line to sign some papers,” said Bradford. The easier it is for customers to consolidate debt and refinance, the more likely they’ll be to take advantage of its benefits.
There’s also the savings argument, which becomes a no-brainer once you run the numbers.By consolidating your payments into one low monthly payment instead of several, you will pay less each month and you will pay off your higher-interest debts faster which will help improve your credit.