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).

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