Debt Consolidation Mortgages provide the perfect opportunity to consolidate your loan payments into a single payment: saving money and allowing you to build or re-build your credit. How does it work? As a homeowner, you have the ability to take out money against the equity in your home. Using this money, you can pay off your other debts and loans, consolidating them into one mortgage payment.
What’s the benefit? That travel trailer, boat, credit cards, line of credit, student loans, or other debts are all charging their own interest rates that may be much higher than a mortgage rate. By consolidating all of these payments into one, not only do you have just one payment a month, but you also get the lower interest rate from the mortgage on all of the loan balances. Talk about savings! Goodbye 19.99% credit card, hello low interest mortgage.