Debt Consolidation Mortgage

 

If you have multiple credit cards, line of credits, and loans, you could save interest and improve your cash flow by consolidating your debt with your mortgage. With a Debt consolidation mortgage, you can simplify your finances into one payment, which will save you time, and potentially lower your credit payments to improve your cash flow. If your mortgage balance is less than 80% of your property value, then you can do a simple refinance up to that 80% level.

For example, if you have a house worth $800,000 and a mortgage balance of $500,000, you can refinance to take out an additional $140,000, giving you a new mortgage balance of $640,000 (80% of that $800,000 value). You can either apply for a new mortgage or a home equity line of credit.