Consolidate your Holidays spending
January 9, 2015 | Posted by: Alex Vinarski
Time to consolidate your credit cards bills from holidays. There are 2 options:
1. Refinance existing mortgage (up to 80% of the property value)
2. Get second mortgage up to 90% of the property value (85% on stata property)
Payments on second mortgage will be much less that credit cards payments.
Example: On $50000 outstanding on credit cards monthly payments will be $1500 (3% of the balance).
Payments on second private mortgage at 12%, will be $500 (interest only).