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If You Want To Eliminate Some
If you want to eliminate some of your other high interest debt, you can do so by rolling that debt into your current mortgage. This is referred to as a debt consolidation refinance. The benefit of a consolidation refinance is that you can take all of your high interest credit cards, and lower the interest to whatever rate you will be paying on your new mortgage. Also, you have the convenience of only making one payment every month. Consolidating your debt doesn’t actually eliminate it. It simply lumps it all together, and lowers the interest rate that you pay each month.
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