Consolidating your debt into your mortgage

15-Jan-2016 04:40

Yes, you can get a home equity loan with a previous bankruptcy and bad credit, but you'll be paying a higher interest rate than someone with good credit.It could even help raise your FICO scores, and the rates will definitely be less than that of credit card debts.Plus, you could enjoy a 100% tax deduction on the interest you pay on your loan.According to Dan Ambrose of Irwin Home Equity, "Consolidating the compounding interest from credit card debt can save you thousands of dollars a year." We suggest consumers consider a fixed debt relief mortgage solution that allows consolidation of high rate loans and revolving accounts that have high rates of interest." The most effective mortgage for refinancing debt depends on the size and current rate of your 1st mortgage.

We offer fixed rate refinancing with debt consolidation loans for people with good and bad credit.

A consolidation mortgage enables you to refinance debts and installment loans by taking out a junior lien to finance cash for credit card consolidation and reduced monthly payments.