articles dating back - Debt consolidating mortgage calculator
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This allows you to pay off those debts more quickly while still paying down your regular mortgage over a longer period of time, without combining the two.
The downside of using a mortgage for debt consolidation is that you're putting your home on the line.
That's particularly helpful if you can combine it with a lower interest rate as well. Basically, you borrow a single, lump sum of cash that's used to pay off all your other debts.
There may be other wrinkles involved - for example, some of your creditors may be willing to write off part of your debt in return for an immediate payoff - but the key thing is that you're simplifying your finances by exchanging many smaller debt obligations for a single bill to be paid every month.
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