Consolidating credit card debt into mortgage
People sometimes think the best way to decrease temptation is to close out cards as they pay them off.
If you have multiple maxed out credit cards, or even just one, this is not the best choice.
Paying off debt takes dedication and hard work, but by taking the right steps, you can make it easier on yourself and become debt free. American Financing can guide you through options and pre-qualify you in just 10 minutes.
Work diligently to pay down the balance on all of your credit cards, starting with the highest interest rate cards.For an exact penalty calculation, contact your lender directly.Of the 10% of Canadians who refinanced their mortgages last year, 62% cited debt consolidation or repayment as the main reason for their refinance.For example, refinancing a mortgage for credit card debt can be incredibly helpful.Credit card debt tends to be some of the most expensive in terms of interest rates, with many cards charging upwards of 12-20 percent interest.