Fixed Rate Mortgage Refinance Consolidation
1st and 2nd Mortgage Loans for Consolidating Credit Card Debts and Refinancing High ARM's

Act fast and secure a fixed rate mortgage refinance loan that saves you money while the interest rates are still affordable. We provide fixed rate refinancing with debt consolidation, cash out and loan payment reduction incentives for borrowers who are combining a first and second mortgage together into one new mortgage.

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Refinancing Credit Card Debt with Second Mortgage Loans
By Maria Ny

Your debts may be unsecured or secured. Secured debts usually are tied to an asset, like a car for an auto loan, or a house for a mortgage. Unsecured debts are not tied to any asset, and include most credit card debt, bills for medical care, signature loans, etc. Second mortgage loans are secure home equity loan that is taken out against a house. Homeowners can find debt relief with a tax-deductible second mortgage.

A fixed-rate home equity loan (second mortgage) is an excellent way of refinancing credit cards to pay off adjustable rate credit card debt. Using a fixed rate home equity loan for consolidating high rate debt saves you money because home equity rates are much lower than those of credit cards, especially if you're paying universal default rates. In its credit card study last year, Consumer Affairs found default rates as high as 35% (Merrick Bank). Runners-up for the highest default rates are Citibank and Providian at 29.99%. So, credit card consolidation with fixed rate home equity loans makes sense.

If most of your debts are secured debts, bill consolidation using a fixed-rate home equity loan makes even more sense because of the tax advantages and the fact that the interest rates will probably be lower than those on your secured debts. Another option for credit card debt relief is a cash-out home refinance. This involves getting a new mortgage for more than what you owe and using the extra cash for fixed rate refinancing of all your debt.

Check with a qualified lender to see what loan would work best for you. If you already have a good mortgage with excellent fixed rates, a fixed rate home equity loan for bill consolidation may be just what you need for debt relief. If you currently have an adjustable rate mortgage (ARM) that's about to adjust and you need a good debt consolidation solution, a refinance may be the answer you're looking for.