Have you seen enough commercials about credit cards and other kinds of debt? Do you feel like they're talking to you when they play all these ads about how to combine bills? Are you finally ready to take advantage of these deals and get your finances in order? If you want to get back control of your money and bills, you need to refinance your mortgage. This will allow you to do what you want to do.
If you pay at least 14% interest on three or four different credit cards every month, those minimum payments will definitely add up. Each month, the interest rates are added to each of these balances. When you consolidate your bills instead of spreading them out, you only pay interest on one amount at a fixed rate that is usually lower than what your credit cards charge.
Several mortgage companies now offer mortgage refinances that help you pay off your credit cards and combine your bills by rolling those bills into the amount of your mortgage. One of the benefits of this type of loan is that instead of having several bills due at different times each month, you will only have one bill due at the same time each month. So, you'll only have to keep track of one bill each month, which will cover both your mortgage and your other debts. Your utilities should be the only other bill you have to pay every month.
By putting all of your debts into one, you save money every month. When you combine your bills in this way, as we've already said, you'll only be charged interest on one amount instead of several. Since the interest rates on mortgage loans are lower than those on credit cards, you pay less each month, which leaves you with more money each month. This extra cash can be used to pay off your balances faster each month or in any other way you choose.
This way of combining your bills will make your life easier and give you back control over your money. Your monthly payment will be less, and so will your interest rates. You'll save money, pay off your bills, and keep your credit score high all at the same time.
