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| Home > Mortgage Buying Guide > Am I Ready for a Mortgage? > Mortgage Consolidation |
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February 8, 2012
Mortgage Consolidation
View our select resources to see if a debt consolidation mortgage is right for you. Learn how a consolidation loan works, about its terms and its advantages and risks. |
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| Should You Refinance Your Mortgage as a Debt Consolidation Loan? |
An eye-opening look at consolidating your debt through a mortgage refinance. Learn that although the idea of consolidating your debt into a low interest mortgage loan is tempting it can be a bad idea. See how with closing costs your savings may not be as much as you forcasted. View how you are putting your home at risk if your bad spending habits continue. Learn that a home equity loan and a personal loan might be an alternative source of funds to consolidate your debts.
From the resource about the risk of using a home loan to pay off debt: "The main reason experts advise against tapping your mortgage to pay off credit card debt is that you're exchanging unsecured debt for secured debt." |
| Source: MortgageLoan.com |
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