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Cons of consolidating debt

With mortgage rates still near historic lows, consolidating credit card debt in a refinance can substantially lower monthly expenses.

With their savings dwindling and credit card debt mounting, they looked to their most valuable assets: their center-city Philadelphia home and a second house they were renting out.

Three years after Ray left an executive position, he found himself earning a fraction of his former income, while his self-employed wife, Jo Ann, struggled to make up the difference in a faltering economy.

Consolidation works best as part of a larger plan to become debt-free; it shouldn’t just be a way to buy some breathing room.

If you are consolidating debt just to get a lower interest rate without really knowing how you’re going to pay the debt off, then you are simply moving the problem around instead of facing it.

As a homeowner, one way to start managing some of your higher-interest debt is to refinance your existing mortgage with a debt consolidation mortgage.

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  1. Cons Some lenders charge an origination fee, which could make this a costly option ifyou’re consolidating a lot of debt. If you have poor credit, you might not be

  2. Here. Managing debt. Overall there are both some pros and cons to this offer. Here is. Consolidating Bank of America Credit Card Debt. If you opt for a

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