Smart Loan Lady Debt Consolidation

Debt Consolidation

Debt consolidation is the process of combining all of your debt (credit cards, car payment, student loans, etc) into one low-interest loan with one payment. By combining all debts into one loan, you can save money in interest every month and speed up the process of paying off your debts.

A cash-out loan allows you to refinance your home while pulling cash out at closing. For example, if you owe $100,000 on your mortgage and your home is worth $200,000, you could refinance for $150,000 allowing you to get $50,000 (minus closing costs). The money can then be used to consolidate your high interest debt.

Consolidating your debt can provide relief from high interest debt, as well as simplify your bills by making only one payment each month. Contact me today for more information. Together, we will determine if you could benefit from consolidating your debt.