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Company Loan Type APR Est. Pmt.

Should I refinance my house to consolidate debts?

Posted on: 13th Jul, 2006 12:57 pm
My credit score is poor and a lot of credit cards are pending. Should I refinance my home to consolidate the debts? Need advice. Thanks.
hi kay!

welcome to forums!

in my opinion, you should speak to the local lenders and try to refinance your existing mortgage to a fixed rate. you can even go for 15 year fixed rate mortgage if you can afford to pay the mortgage dues. this will help you in getting lower rates and you will be able to get your property free and clear quite early.

feel free to ask if you've further queries.

sussane
Posted on: 09th Nov, 2010 12:53 am
Thinking bout refinancing not alot of dept 1 credit card with this economy had to to take a pay decrease to keep current job can't get part time job to help with mortgage payments rate at 5.87 loan is 280,000 is this a good time
Posted on: 28th Jun, 2011 12:05 pm
Posted on: 28th Jun, 2011 11:46 pm
I am working pay day to pay day. On the house and truck. 4 years ago I helped my daughter to get a car. She's moved out of state and is starting to fell behind alittle on the payments. To safe my credit should I refinance the house - truck - and car to help make it easier on me. I'm afraid if I don't I could lose every thing. I'm currant on all my bills and can't afford the car.
Posted on: 04th Feb, 2012 08:13 am
Hi Vickie,

You can ask your daughter to refinance the car solely in her name. You can refinance the house and the truck in your name solely. Thus, the lender won't be able to come after the house and truck in order to recover the payments for the car.

Thanks
Posted on: 05th Feb, 2012 11:49 pm
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