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Mortgage and Lending with Verico KC Mortgage Services (lic 10410) indep owned and oper
Consider refinancing your mortgage to pay out credit card debt.  Interest rates charged on outstanding credit card balances can be very high.  With rates ranging from 12% to 28%, it will take much longer to pay the debt off and you will be paying mostly interest charges to the financial institution.  If you increase your mortgage to pay out the credit card debt, you will be in a much better position to pay off the outstanding principal balance quicker while paying much less interest to the financial institution.  If you would like more information on this, please contact me at bjeysman1@cogeco.ca or phone me at 905-978-7283.
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Anonymous
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And it maybe possible to write off the mortgage interest.
Jul 04, 2007 08:07 PM #1
Rainer
33,105
SHAUN WREN
LICENSE IS NOT PLACED - Lakeland, FL

When refinancing a home be aware that the closing costs may be more than the interest you would pay on the credit cards. Refinancing isn't always the best solution.  I am not saying not to refinance. Just be careful.

Jul 04, 2007 09:42 PM #2
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Rainer
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Beth Jeysman

(Lic M08000227)
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