Cash Out Refinance –

A cash-out refinance is the best option if you have a lot of equity in your home and your current mortgage interest rate is higher than the rate being offered today. With a cash-out refinance you'll pay off your current mortgage and get cash back to pay off credit cards and other loans. While it's true that your new loan amount will be more than what you owed on your old mortgage, you'll use the cash to pay off other debt. You'll still have the same amount of debt; but now it's "consolidated" at a lower interest rate and with interest that's most likely tax deductible*. (Typically, credit card and other loans interest is not tax deductible.)

Debt Consolidation Loan –

Many people think they won’t qualify for a debt consolidation loan if they have bad credit. Other apply for a debt consolidation loan later to be turned down by the lender. This doesn’t have to happen to you, before you apply for a debt consolidation loan there are a few things you need to know.

Lenders are in business to lend people money, not turn them down for a debt consolidation loan. That’s why we have aligned our company with Full Spectrum lending to offer even bad credit debt consolidation loans. At Full Spectrum, 4 out of 5 loan applicants get approved! Our experts love to say "yes" to homeowners – even those with less-than-perfect credit – who want to tap home equity to get cash, consolidate debt and lower monthly expenses. With competitively priced fixed and adjustable rate loans and home equity lines of credit, we're able to tailor our programs to meet your individual needs.