Consolidating home and auto loans

To do this, many or all of the products featured here are from our partners. It can reduce your total debt and reorganize it so you pay it off faster.

However, these two options involve risk — to your home or your retirement.

First, mortgage rates tend to be lower than the interest rates than other types of debt, particularly credit cards and other unsecured loans.

Second, mortgages can be repaid over a long period of time, which helps reduce your monthly payments.

You get the convenience of rolling all your debts into a single monthly payment, which is often lower than what you were paying before, due to a lower interest rate, a longer repayment period or a combination of both.

A mortgage-based debt consolidation loan can be a good option for a number a reasons.

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