December 07, 2001
By: Bev Dodd
Refinance loan: Low, low rates, easy terms
Bill consolidation is an option you can take with your refinance loan. Look at the savings you can make by getting a refinance loan when the interest rates are as low as 2 or 3% different from your existing loan. We'll discuss this more below.
If your refinance loan is to consolidate first and second mortgages, make sure you provide the loan advisor with the details and they will display the potential options for consolidating your mortgages. Credit cards, car loans, student loans, revolving credit and other debts can be consolidated also.
If you would like to use the equity in your home to pay off other bills it can be a smart thing to do. If you are in the process of looking for a refinance loan, consider taking some money out to pay off credit card bills, auto loans, and any debt which cost you interest that is not tax deductible. You may also be able to write off the interest you pay.
Most homeowners are fairly adept at methods of saving money--they clip coupons to save a few dollars when grocery shopping, and they comparison shop before most major purchases. Many of these same homeowners, however, continue to pay monthly mortgage payments with interest rates that are 2%, 3%, or more higher than what may be currently available for a refinance loan.
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Auto loans | Bad credit approval | Consolidation loans | Home buyers | Personal loan online | Refinancing
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