Mortgage Refinance to Pay Off Debt: Do It Right

Author: External Author | Sep 30, 2020 | Categories: Accredited Mortgage Professional , Borrowed Down Payment , First Time Home Buyer Mortgage , Flex Down Mortgage , Home Equity Line Of Credit , Mortgage Broker , Mortgage Refinance , Mortgage Renewal , New to Canada Mortgage , Purchase Mortgage , Purchase Plus Improvement Mortgage , Real Estate Mortgage , Reverse Mortgage , Spousal Separation

Some homeowners refinance to pay off debt, such as credit card balances. They accomplish this with a cash-out refinance: getting a mortgage for more than they owe on the home, taking the difference in cash and paying off high-interest debt with it.

CLICK HERE TO READ THE FULL ARTICLE

Original Article Source Credits: NERDWALLET , https://www.nerdwallet.com/

Article Written By: NERDWALLET

Original Article Posted on: Dec. 3, 2019

Link to Original Article: https://www.nerdwallet.com/blog/mortgages/refinancing-mortgage-pay-off-debt-right/