Mortgage debt consolidating mortgage company
For many Americans, the mortgage interest deduction saves them several thousands of dollars on their annual tax bill.
If you refinance your home and pay off your debts with your home equity, you will be able to write off most of that interest.
For decades Americans have turned to the mortgage in an effort to save money with lower payments through the debt consolidation loan opportunities afforded to homeowners in this country.
A few people may see little increase in their payment, if they are refinancing a much higher rate mortgage.
Others will see higher payments each month, but you will be paying much less interest over time if you shorten your mortgage by 10 or 15 years.
You can quickly increase your credit score if that debt is rolled into your refinanced mortgage.
This is a much lower interest rate debt, and mortgage debt is generally seen as ‘good’ debt by the credit bureaus, as long as you pay your mortgage on time.