Home Equity Loans for Consolidating Debt

by admin ~ January 17th, 2011.

Many homeowners have used home equity loans to consolidate credit card debt and adjustable rate loans.  It makes financial sense to refinance compounding interest debt into a fixed simple interest equity loan.  The reality is that credit card carry variable interest rates and home equity loans are second mortgages that feature a fixed interest rate for terms ranging from 15 to 30 years.  In most cases home equity loans are tax deductible up to $100,000, so that would be another reason to consolidate debt with a fixed rate home equity option.  Home equity rates are available as low as 4%.

There are several types of second mortgage or equity loans to choose from:

> Fixed Home Equity Loan Refinance

> Second Mortgage Refinance

> Interest Only Home Equity Line Of Credit

> Debt Consolidation Mortgages

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