Consolidating credit card debt calculator


20-Oct-2016 17:51

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So keep that in mind before boosting your mortgage debt.

As noted above, you can use the calculator to look at either rolling all your debts through a cash-out refinance, or to use a home equity loan/line of credit to pay off your debts and keep them separate from your primary mortgage used to pay for your home.

Second, mortgages can be repaid over a long period of time, which helps reduce your monthly payments.

On the other hand, if you organized your finances to pay every month on the debt no matter how low the minimum payment gets, you can have the same credit card paid off in just two years.

The first option will generally have you paying back a debt for decades.



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