Why Refi to Consolidate Debt

Paying off debt is something most of us want to do but often struggle to accomplish. Many people try to do it on their own and make little progress. The odds are in favor of the credit card companies and high interest lenders. We use debt to improve our lifestyles or help in tight circumstances. Using your home to eliminate debt incurred over time, in holiday season or through life’s trials is very strategic.  Vinson Mortgage can help develop that strategy for you.

Besides paying off the debt itself, you also add a tax deduction to your balance sheet. Credit card interest is not tax deductible but mortgage interest is. In many instances, monthly mortgage payments can be lowered, as well as overall budget payments, due to the debt reduction. This depends on the equity position you’re in. If that position is strong, cash out options may also exist. Allowing you to pay college education costs, home improvement needs or even that dream vacation you thought could never happen.

With housing inventory low, home values are increasing rapidly. If a borrower intends to stay in their home, you can tap into that increased value and literally change your life through Vinson Mortgage. It’s certainly worth investigating and it can be very surprising how quickly the funds can be secured. This occurs by evaluating your financial needs and realizing your home is usually a convenient source of funding to meet those needs. Replacing  expensive credit card debt, high interest loans or medical expenses with more economical interest rates of a mortgage not only makes sense, it can be liberating. Not to mention improving the home you’re living in. That’s one of the motivating factors behind Vinson Mortgage’s success. This results in a better life for our clients and their families. Give us a call and we’ll gladly research all of your lending options to determine if we can truly help with your situation, regardless of your circumstances. We have decades of experience, which is critical to finding the absolutely best solution for you.