dating services binghamton ny - Consolidating your debt your mortgage

Ssex chat rom serbia - Consolidating your debt your mortgage

This is done by securing a better interest rate on your mortgage, an option that should always be considered if mortgage interest rates have dropped considerably since obtaining a previous mortgage.

There are fees associated with a debt consolidation mortgage, but they can be recovered very quickly from paying less in interest.

In our example below, the interest paid in four years is substantially less.

In doing the math, $96,550 minus $74,900 equals $21,650 in interest savings. In some cases lenders will cover appraisal fees and even legal fees, that would bring your total savings even higher as you are not paying those costs out of pocket.

The secret is to determine at an early stage whether debt consolidation is the best route for you.

Last modified 01-Feb-2016 10:36