Consolidating Debt

If you are overextended with credit and living month-to-month, debt consolidation might make your payments more manageable.

By using a home equity loan to pay off multiple credit accounts, you can take advantage of three valuable benefits:

Simplicity. Instead of a steady stream of bills in the mail — each with a different payment amount and due-date — you receive a single statement each month.
Lower payments. Because they are secured by your home, home loans generally carry lower rates than most other types of credit. That means you'll have lower monthly payments and a chance to put money into savings.
Improving credit. Simplifying your debt situation and reducing your monthly obligations can make it easier to keep up with payments. A solid payment record on your home equity account is a great way to give your credit a boost.

Slavsky Mortgage