There is a Solution for High Interest Credit Cards & Auto Loans Through Home Equity

By
Mortgage and Lending with C2 Financial Corporation

In today's lending environment we are still seeing many clients taking advantage of a cash out refinance to reduce monthly expenditures. The cost of money on a home loan is definitely quite low since are still at historically record low levels in terms of interest rates. As compared to many credit cards, auto loans and student loans etc. Also, it comes in handy for kids going to college, wedding costs, and home improvement work.

Comments (3)

Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Great idea but you still have to change your spending habits and take the monthly savings and pay down the mortgage. Nothing better then living with no mortgage. 

Jun 18, 2015 12:13 PM
Stefan Winter
Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger - Las Vegas, NV
Owner - Winter Group & Real Estate Web Tech

Like Bill Reddington said, unless you change your spending habits it wont fix much for long. On top of that now you risk loosing your home at somepoint, great if you got responsible, bad idea for some. All depends on the person.

Jun 18, 2015 12:57 PM
Shawn Sidhu
C2 Financial Corporation - San Jose, CA

Bill & Stefan, those are valid points. In addition, paying down the mortgage through a principal reduction payment is not the best option for many folks. The monthly savings can be utilized to further grow 401K and/or investment accounts based on my experiences. 

Jun 18, 2015 03:03 PM

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