So should you refinance your first mortgage for debt consolidation or opt for second mortgage benefits?
Even though your first mortgage rate is at low, you would have to consider your blend rate if you opt for a second mortgage.
Either way (HELOC or HELON), your interest rate will be much higher than your current rate, so if your blend rate matches or is better than the current interest rates now, then you might be better off just refinancing your property. Read the rest of this entry »
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